Explain carefully the difference between selling a call option and buying a put option. a. Selling a call option and buying a put option is the same b. Selling a call option gives you a right to sell and buying a put option gives you a right to buy c. Selling a call option creates an obligation to sell and buying a put option gives you a right to sell d. Selling a call option gives you a right to buy and buying a put option gives you a right to sell Explain carefully the difference between hedging, speculation, and arbitrage. a. Hedgers bet on the direction of a market, Speculators explore mispricing taking positions in different markets, and Arbitrageurs take positions to offset portfolio risk b. Speculators bet on the direction of a market, Arbitrageurs explore mispricing, taking positions in different markets, and Hedgers take positions to offset portfolio risk c. Arbitrageurs bet on the direction of a market, Hedgers explore mispricing taking positions in different markets, and Speculators take positions to offset portfolio risk d. Speculators bet on the direction of a market, Hedgers explore mispricing taking positions in different markets, and Arbitrageurs take positions to offset portfolio risk