Which one of the following is the correct formula for approximating the change in an option's value given a small change in the value of the underlying stock

The value of a call option delta is best defined as:    A.  between zero and one. B.  less than zero. C.  greater than zero. D.  greater than or equal to zero. E.  greater than one. Refer to section 25.3

27.

Which one of the following is the correct formula for approximating the change in an option's value given a small change in the value of the underlying stock?    A.  Change in option value ≈ Change in stock value/Delta B.  Change in option value ≈ Change in stock value/(1 - Delta) C.  Change in option value ≈ Change in stock value/(1 + Delta) D.  Change in option value ≈ Change in stock value × (1 - Delta) E.  Change in option value ≈ Change in stock value × Delta Refer to section 25.3

28.

Assume the price of the underlying stock decreases. How will the values of the options respond to this change? I. call value decreases II. call value increases III. put value decreases IV. put value increases    A.  I and III only B.  I and IV only C.  II and III only D.  II and IV only E.  I only Refer to section 25.3

29.

Which of the following statements are correct? I. Increasing the time to maturity may not increase the value of a European put. II. Vega measures the sensitivity of an option's value to the passage of time. III. Call options tend to be more sensitive to the passage of time than are put options. IV. An increase in time decreases the value of a call option.    A.  I and III only B.  II and IV only C.  II, III, and IV only D.  I, III, and IV only E.  I, II, III, and IV Refer to section 25.3