Before revision:  Additional results for calm stock : a) show that volatility's role is fundamental in the call's transaction, b) clarify the behaviors of the trader and the call's buyerand c) confirm quantitatively that the buyer 's price carries an exponentially increasing volatility  premium.
After revision:  Additional results for calm stock : a) show that volatility's role is fundamental in the call's transaction, b) clarify the behaviors of the trader and the call's buyerand c) confirm quantitatively that the buyer 's price carries an exponentially increasing volatility premium and its difference with C provides a measure of the market risk premium.