[Solved] An option that gives the holder the right to buy a stock at a specified price at some time in the future is called a(n) A) Call option. B) Put option. C) Out-of-the-money option. D) Naked option. E) Covered option. Individuation: The process of developing a distinct and independent personality, or the differentiation of the self from others. Identity Status: A concept in psychology that relates to the development of identity and the various stages individuals go through as they form their sense of self. Perspective Taking: The cognitive capacity to consider a situation or understand a concept from an alternative viewpoint, often correlating with empathy. Piaget's Cognitive Theory: A theory of cognitive development that outlines how children's abilities to think and reason evolve through four distinct stages as they grow.