The Best Definition of Ex-Rights Is

The best definition of Ex-Rights is:

A) Period when stock is selling without a recently declared right, normally beginning two business days before the holder-of-record date.
B) Period when stock is selling with a recently declared right, normally beginning two business days before the holder-of-record date.
C) Period when stock is selling with a recently declared right, normally beginning four business days before the holder-of-record date.
D) Period when stock is selling with a recently declared right, normally beginning four business days after the holder-of-record date.
E) Period when stock is selling without a recently declared right, normally beginning two business days after the holder-of-record date.