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Option Contract
A contract which gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a specified price on or before a certain date.
Specific Asset
A distinct item of property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.
Specific Price
This term refers to the exact price of a particular item or security at a specified time.
Put Option
A put option is a financial contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.
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