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　　According to Put-Call parity, buying a call option on a stock is equivalent to:
　　A.     Writing a put, buying the stock, and selling short bonds (borrowing).
　　B.     Writing a put, selling the stock, and buying bonds (lending).
　　C.     Buying a put, selling the stock, and buying bonds (lending).
　　D.     Buying a put, buying the stock, and selling short bonds (borrowing).
　　Answer: D
　　The payoff from buying a call option is the same as that of selling short bonds, buying the stock, and buying a put. You can see that by using put-call parity: