All of the Following Distinguish the Typical Real Option on Land

All of the following distinguish the typical real option on land development from the typical financial option on securities, except:

A) The land development option is perpetual.
B) The underlying asset value in the land development option can only be observed with "noise".
C) Exercise of the land development option adds to the supply side of the market in which the underlying asset trades.
D) The underlying asset in the case of the land development option typically pays income to the former option holder only upon exercise of the option.