34.Consider the following statements, which one is incorrect?

a) Short a coupon bond is equivalent to long effective duration and short effective convexity.

b) Long a plain vanilla call option is equivalent to log delta and also long gamma

c) Short a plain vanilla put option is equivalent to short Vega.

d) Long a deep in the money up and out call option is equivalent to long delta and short Vega.


the answer is d).          WHY ???