Which of the following statements is FALSE?

a. A holder would not exercise an in-the-money option.
b. The option seller, also called the option writer, sells (or writes) the option and has a short position in the contract.
c. When the exercise price of an option is equal to the current price of the stock, the option is said to be at the money.
d. Because the long side has the option to exercise, the short side has an obligation to fulfill the contract.

a. A holder would not exercise an in-the-money option. (May or may not)