Examlex
Locke draws a distinction between
Strike Price
The agreed-upon rate at which the possessor of an option may acquire (if it's a call option) or dispose of (if it's a put option) the underlying financial instrument or commodity.
Option
A financial derivative that gives the holder the right, but not the obligation, to buy or sell an asset at a specified price within a specified time.
American Call Option
A financial agreement granting the purchaser the option, yet not the compulsion, to purchase a stock, bond, commodity, or any asset at a predetermined price within a defined time frame.
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