Ted Purchased a Futures Option on Cotton with a Strike

Ted purchased a futures option on cotton with a strike price of 51. If Ted exercises this option, he will receive:

A) A futures contract on cotton.
B) Cash equal to the difference between the current futures price and the strike price of cotton.
C) Cash equal to the difference between the futures pre-specified price and the strike price of cotton.
D) A futures contract on cotton and will pay the difference between the current futures price and the strike price of cotton.
E) A futures contract on cotton plus cash equal to the difference between the current futures price and the strike price of cotton.