1. A stock moving substantially will make money for a long Strangle while it doesn't have to move at all for a long straddle to make money because the strike of the put and call in the straddle are the same. 2. A long put option on a stock will gain if the stock price goes down as put is usually used as a hedge against price drop 3. A covered call position will not make money unless the stock move above the initial stock price.

A. Only 1 B. Only 2 C. Only 3 D. 2 and 3 are true E. All of the above