lucasg85

C.

Even if we take a B-S risk free rate, values of puts that are barely "in-the-money" will have a delta > -0.5 if the time till expiration is very large (big T-t), and/or if the volatility is high.

The "+/- 0.5" is just an approximation, not a rule.

Volatility and long time till expiration are good if you are deep out of the money, yet they are not if you are just in-the-money.