If the expected path of 1-year interest rates over the next five years is 1 percent, 2 percent, 3 percent, 4 percent, and 5 percent, the expectations theory predicts that the bond with the highest interest rate today is the one with a maturity of
【单选题】Since delta of an option changes over the same time period that a stock price is changing, what is the delta used to calculate the approximate change in the option price?