John is a registered representative who has discretionary options accounts for 25 of his largest customers. John likes the news coming out of ABCD Corporation and decides to buy ABCD calls for some of his clients. He buys 30,000 ABCD call contracts for 10 out of the 25 discretionary accounts that he manages. The position limit for ABCD is 250,000 contracts on each side of the market. Which statement is TRUE? A. This is not a violation of position limits because the positions were taken in different accountsB. This is not a violation of position limits because of the exemption from position limit violations given to positions taken in 10 or fewer accountsC. This is not a violation of position limits because position limit violations only apply to the down-side of the marketD. This is a violation of position limits
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