Indicate whether it is true (T) or false (F), it is not necessary to support the answer:
1. A Cap is the combination of a long asset and a short Call.
2. A Floor is the combination of a long asset and a long Put.
3. An In-The-Money option is one that has a positive payoff if executed immediately.
4. The cost of a Straddle cannot be less than the cost of a Strangle.