NO.PZ2018062007000040
问题如下：
If the exercise price increases, the value of a European call option will most likely:
选项：
A. decrease
B. increase
C. remain the same
解释：
A is correct.
At expiration the payoff of a call option is MAX (0, ST-X), the lower is X, the payoff is greater. Therefore the value of call option will increase as the exercise price decreases, in other words the value of call option will decrease as the exercise price increases.
中文解析：
call option的收益为MAX (0, ST-X)，如果X变大，那么ST-X会变小，所以call的价值最有可能变小。
exercise price、strike price都是行权价的意思吗？CFA中，行权价还有其它英文表示吗？
