Which of the Following Statements About Backdating Is Most Valid

Multiple Choice

Which of the following statements about backdating is most valid?

A) A backdated option is one that is issued prior to today.
B) Backdating usually involves the issuance of an option with a prior issue date and lower strike than today's price.
C) Backdating usually involves the ex-post issuance of an out-of-the-money option.
D) A backdated option is exactly the same as a fixed-strike lookback option.