Which one of the following describes the lower bound of a call's value?
A) Strike price or zero, whichever is greater
B) Stock price minus the exercise price or zero, whichever is greater
C) Strike price or the stock price, whichever is lower
D) Strike price or zero, whichever is lower
E) Stock price minus the exercise price or zero, whichever is lower
Correct Answer:
Verified
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