Which of the following statements are correct concerning option values, all else held constant?
I. The value of an in-the-money call increases as the price of the underlying stock increases.
II. The value of a call decreases as the exercise price increases.
III. The value of an in-the-money put increases as the price of the underlying stock increases.
IV. The value of a put decreases as the exercise price increases.
I and III only
I and II only
II and III only
II and IV only
I, II, and IV only