Examlex
When interviewers say almost the same things to all interviewees, we say that there was:
Option Contract
A contract which gives the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price prior to or on a specified date.
Call Option
A financial contract that gives the buyer the right, but not the obligation, to buy an asset at a specified price within a certain period.
Strike Price
The set price at which an option contract can be bought (call) or sold (put) when it is exercised.
Underlying Stock
The stock that must be delivered when a derivative contract, like an option or futures contract, is exercised.
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