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Depending on the situation, the same man might declare "I'm Jimmy's father"; "I'm your boss"; "I'm African American"; or "I'm your professor." This phenomenon, whereby a person's claimed or perceived identity varies depending on context, is called
Call Option
A financial contract that gives the buyer the right, but not the obligation, to buy a specified quantity of an asset at a predetermined price within a specified time period.
Stock Price
The current market price at which a share of stock can be bought or sold.
Exercise Price
The price at which the holder of an option can buy or sell the underlying asset.
Time Value
The portion of an option's premium that is attributable to the amount of time remaining until the expiration of the option contract.
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