A call option is in the money when ...i...; while a put option is in the money when ...ii....Select one:a.S>X X>Sb.Sc.SSd.S=X X=S

The correct answer is a. S>X X>S.

Here's why:

i. A call option is in the money when the spot price (S) of the underlying asset is greater than the strike price (X). This is because the holder of the call option has the right to buy the asset at the strike price, and if the spot price is higher, they can immediately sell it at the higher price for a profit.

ii. A put option is in the money when the strike price (X) is greater than the spot price (S) of the underlying asset. This is because the holder of the put option has the right to sell the asset at the strike price, and if the spot price is lower, they can buy the asset at the lower price and sell it at the higher strike price for a profit.