完全看不懂答案 可以解释一下吗
A call option on a stock index is valued using a three-step binomial tree with an up move that equals
1.5 and a down move that equals 0.95. The current level of the index is $190, and the option exercise
price is $200. If the option value is positive when the stock price exceeds the exercise price at
expiration and $0 otherwise, the number of terminal nodes with a positive payoff is:
A. one.
B. two.
C. three.
