At Expiration, the Writer of a Stock Index Call Option

Multiple Choice

At expiration, the writer of a stock index call option that was written at the money will be required to:

A) deliver the underlying stocks in the index if the index value moves up.
B) deliver the underlying stocks in the index if the index value moves down.
C) deliver a cash value if the index value moves up.
D) deliver a cash value if the index value moves down.