In the Black-Scholes framework, dividend payments affect option values differently based on moneyness:

• In-the-money options are most sensitive to dividend changes
• Out-of-the-money options are least sensitive to dividend changes

Given the parameters: S = 93, K = 90, this represents an in-the-money call option (stock price > strike price). However, the question states that in-the-money options change value the most from dividend payments, while out-of-the-money options change the least. Therefore, the option that would be least affected by dividend payments is an out-of-the-money call option.