Which of the following is most accurate with respect to delta-normal VAR?
A. The delta-normal method provides accurate estimates of VAR for assets that can be expressed as a linear or nonlinear combination of normally distributed risk factors.
B. The delta-normal method provides accurate estimates of VAR for options that are at or near-the-money and close to expiration.
C. The delta-normal method provides estimates of VAR by generating a covariance matrix and measuring VAR using relatively simple matrix multiplication.
D. The delta-normal method provides accurate estimates of VAR for options and other derivatives over ranges even if deltas are unstable.