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An option contract that gives the holder the right to buy a certain quantity (usually 100 shares) of an underlying security from the writer of the option, at a specified price (the strike price) up to a specified date (the expiration date). also called call option. - The act of exercising a call option. - The right to redeem a callable bond before its scheduled maturity. - In banking, a demand to repay a security loan immediately.

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