Rights are call options issued to current owners of the shares and normally expire within a short period of time.

Name: Rights are call options issued to current owners of the shares and normally expire within a short period of time.
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Quizplus · Accepted Answer

Rights are indeed similar to call options as they give existing shareholders the opportunity to purchase additional shares at a discount, typically expiring within a short period.

Rights Are Call Options Issued to Current Owners of the Shares