Which of the following is not a correct statement about the compound call option and its formula, as propagated by Geske (1979)?

A、 A compound option is an option to buy an option
B、 Geske assumes that firm value follows the same distribution as the stock price in the Black-Scholes formula
C、 Geske believes that the logarithm of firm value is normally distributed
D、 Geske assumes that firm value has non constant volatility