Which statement about options is true? Select one: a. When an option is out-of-the-money, it is worth nothing. b. For a call option, its intrinsic value is negative when it is out-of-the-money. c. At maturity, an options payoff equals it's intrinsic value. d. The time value of an option is only affected by it's time to maturity. e. None of the options are correct.