A Binomial Tree Setting Has an Up-Move Of $u > 1$

Multiple Choice

A binomial tree setting has an up-move of $u > 1$ (with probability $p = 0.75$ ) and a down move of $d < 1$ (with probability $1 - p = 0.25$ ) , with $u d = 1$ . The risk-free interest rate per time step is zero, so a dollar invested at the beginning of the period returns a dollar at the end of the period. In this setting, the risk-neutral probability of an up-move

A) Is $> \frac { 1 } { 2 }$ .
B) Is $< \frac { 1 } { 2 }$ .
C) Is equal to $\frac { 1 } { 2 }$ .
D) Is equal to $p$ .