问题如下：
9. The factor that is currently least likely to affect the risk-return characteristics of Bond #9 is:
选项：
A. Interest rate movements.
B. Whorton’s credit spreads.
C. Whorton’s common stock price movements.
解释：
C is correct.
The risk-return characteristics of a convertible bond depend on the market price of the issuer’s common stock (underlying share price) relative to the bond’s conversion price. When the underlying share price is well below the conversion price, the convertible bond exhibits mostly bond risk-return characteristics. In this case, the price of the convertible bond is mainly affected by interest rate movements and the issuer’s credit spreads. In contrast, when the underlying share price is above the conversion price, the convertible bond exhibits mostly stock risk-return characteristics. In this case, the price of the convertible bond is mainly affected by the issuer’s common stock price movements. The underlying share price ($30) is lower than the conversion price of Bond #9 ($50). Thus, Bond #9 exhibits mostly bond risk-return characteristics and is least affected by Whorton’s common stock price movements.
老师请问，如果当W‘s common stock price大于50的时候则convertible bond变得更像股票，那么这题就应该选C了吧？