1. For Call Options, the __________ the existing market price of the underlying financial instrument relative to the exercise price, the ____________ option premium. (lower/higher)
2. For Put Options, the __________ the existing market price of the underlying financial instrument relative to the exercise price, the ____________ option premium. (lower/higher)
3. The higher the call option premium, other things being equal, ______________ the existing price of the security relative to the exercise price. (lower/higher/no impact)