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We find it harder to frown when viewing a smile than when viewing a frown. This can most clearly be attributed to
Option's Value
The intrinsic and time value associated with an options contract, determining its worth on the market.
Option
A financial derivative that provides the buyer the right, but not the obligation, to buy or sell an asset at an agreed-upon price within a certain period.
Lower Bound
The minimum level that an economic or financial variable can achieve, often used in the context of interest rates.
Fixed Price
A fixed price is a set cost for goods or services that does not change in response to market fluctuations or differing quantities purchased.
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