(A) is the correct answer. As you may recall, the idea of stimulating the PPARa is to reduce triglycerides. According to the Veterans Affairs High-Density Lipoprotein Cholesterol Intervention Trial (VA-HIT) from 1999, the decrease of triglycerides from fibric acid derivatives was immense (31%).
HDL is actually increased due to Apo-I and Apo-II being activated.
LDL and VLDL are decreased as well. Because ApoE is more able to help bind to the LDL receptor, it can remove VLDL and reduce the about of LDL that way. However, compared to the triglyceride-lowering effect, it is not as relevant.
An easy way to remember this is thinking of the brand name of fenofibrate, which is Tricor.
TRIcor = TRIglycerides.