A Path-Independent Option Is

A path-independent option is

A) An option where the price process is not continuous, i.e., it does not follow a smooth path, but jumps from one value to the next.
B) An option where the option payoff depends on the price of the underlying asset at exercise time but not on the details of the price path followed to that point.
C) An option where the option payoff is independent of anything that happens to the price of the underlying after inception.
D) An option where the option payoff is constant regardless of the path taken by the price of the underlying.