Answer: True

**True.** A chooser option gives the holder the right, at the chooser date, to select whichever plain-vanilla option is more valuable: the call or the put. Because the holder can always choose the better of the two alternatives, the chooser must be worth at least as much as either standalone option with the same strike and maturity. In practice, it is typically worth more than either one individually.

Author: Manit Arora