D为什么是对的呢

问题如下：

Which of the following statements is least accurately describes volatility smiles?

选项：

A.

Currency options exhibit volatility smiles due to the lower implied volatility in away-from-the-money options than at-the-money options.

B.

Volatility frowns result when asset prices have jumps rather than being continuous .

C.

Equity options exhibit a volatility smirk because the implied volatility is greater in low strike price options.

D.

Traders expect more asymmetric extreme price movements in equity than currency.

解释：

A is correct.

考点：Volatility smile

解析：

Currency options exhibit volatility smiles because the at-the-money options have lower implied volatility than away-from-the-money options.