Assume that an investor decides to buy a share of stock that is synthetically constructed usind derivatives (e.g., the replica is long a call and a bond, and short a put). In practice, the value of this replica portfolio will be:

A) Lower than the value of the share because the replica portfolio lacks voting power.

B) Lower than the value of the share because fewer people buy options.

C) Higher than the value of the share because implied volatility is higher than actual volatility.

D) Higher than the value of the share because of the put-call parity.