Two call options are identical except that one is in the money and one is out of the money. Which of the following are true:

a. You will pay more for an option that is in the money than the option that is out of the money

b. You should never buy an out-of-the-money option

c. There is no time value in an out-of-the-money option, only intrinsic value

d. Buying out-of-the-money call options reflects a view that the stock price will drop