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Consider the $4$ statements below:

I. The primary objective of delta hedging is to$$reduce the directional risk associated with price movements in the underlying asset.

II$.$ Gamma is the partial derivative of delta with respect to the price of the underlying asset.

III. Gamma is the second partial derivative of the option price with respect to the delta of the position.

IV$.$ A delta$-$neutral position is where$$position where the overall delta of the portfolio is zero, increasing the exposure to price movements in the underlying asset.

Select the correct answer $($only one answer allowed$).$

Question $8$Answera.Statements III and IV are both incorrect

b$.$Statements II and IV are both incorrect.

c$.$Statements I and II are both incorrect.

d$.$Statements I and III are both incorrect.