问题如下：
For the past two weeks, Greene, the fund manager, has been buying a lot of common shares in Company Denali Limited and short put options on this stock at the same time. Greene did not inform his clients of the above transactions, although they knew the strategies used by the fund to generate returns. Which of the following statements is most likely to be correct?
选项：
A. did not violate the Code.
B. manipulating the price of company A’s
securities violates the Code.
C. operating transactions without disclosing them to customers is a violation of the Code.
D. there is no reasonable and sufficient basis
for the transaction, which violates the Code.
解释：
Correct answer: A
Greene's trading attempted to arbitrage between the common shares of Company Denali Limited and its put options. His normal trading behavior did not involve manipulation of securities prices. His investment strategy is compliant, and hedge fund participants understand his investment strategy, so Greene's failure to disclose these transactions before the transaction does not violate the Code.
請老師解釋下這一題 謝謝