[Solved] An option that gives the holder the right to sell a stock at a specified price at some future time is A) a call option. B) a put option. C) an out-of-the-money option. D) a naked option. E) a covered option. Dividend Yield: A financial ratio that indicates how much a company pays out in dividends each year relative to its stock price. Volatility: Refers to the degree of variation of a trading price series over time, indicating the level of uncertainty or risk associated with a security's value. Hedge Ratio: A ratio used to adjust or hedge the risk exposure of an investment by comparing the value of the position protected to the value of the protective instrument. Hedge Ratio: A ratio used to determine the portion of an asset or portfolio that is protected or hedged against market movements.