Assume that implied volatilities from equity option prices display a volatilit

Assume that implied volatilities from equity option prices display a volatility skew and that implied vols from currency option prices display a volatility
smile. Which of the following statements about option price implied volatility curves are true?

I. The implied volatility of a deep out-of-the-money equity put option is higher than that of a deep-in-the-money equity put.

II. The implied volatility of a deep out-of-the-money equity call option is higher than that of an at-the-money equity call option.

III. The implied volatility of a deep in-the-money currency call option cannot be the same as that of a deep in-the-money currency put option.

IV. The implied volatility of a deep out-of-the-money currency call option is higher than that of an at-the-money currency call option.

A. I and III only

B. I and IV only

C. II and III only

D. II and IV