Answer Happy

Which of the following statement is incorrect?
a. Option buyers can never lose more than the option premium the
option was bought for.
b. Option writer can never earn more than the option premium the
option was sold for.
c. If the market is semi-strong form efficient, it is also
strong form efficient.
d. If the market is semi-strong form efficient, it must also be
weak form efficient.
e. If the market is strong form efficient, it must also
semi-strong form efficient.