Which of the following accurately describes Mr. Smith's options transaction?
a) He sold 5 listed XYZ Corporation July 50 calls for a premium of $3 each.
b) He bought 5 listed XYZ Corporation July 50 calls and paid a premium of $3 each.
c) He bought 5 listed XYZ Corporation July 50 puts and paid a premium of $3 each.
d) He sold 5 listed XYZ Corporation July 50 puts for a premium of $3 each.