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 Glossary:  ABCDEFGHIJKLMNOPQRSTUVWXYZ
 

The right, but not the obligation, to buy (for a call option) or sell (for a put option) a specific amount of a given stock, commodity, currency, index, or debt, at a specified price (the strike price) during a specified period of time. For stock options, the amount is usually 100 shares. also called option contract.

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