Reading36 原版书课后题18题

Pierre-Louis Robert just purchased a call option on shares of the Michelin Group. A few days ago he wrote a put option on Michelin shares. The call and put options have the same exercise price, expiration date, and number of shares underlying. Considering both positions, Robert’s exposure to the risk of the stock of the Michelin Group is: A long. B short. C neutral. 答案为何是A？ 是不是可以这样理解？买了一个看涨期权，害怕价格下跌，卖出一个看跌期权，也是害怕价格下跌，如果手上有现货，到期真的价格下跌，意味着资产价值下降，如果没有现货，下跌也不怕？所以，风险是做多？