The opportunity, but not the obligation, to buy a security within a specified period of time at a guaranteed price is

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This scenario describes a call option, which gives the holder the right (but not the obligation) to purchase a security at a specified price during a specified time frame. Buying on margin is a form of borrowing to purchase securities, while direct investing and short sales do not involve options contracts. A put option would offer the right to sell a security at a specified price, rather than buy it.

The Opportunity, but Not the Obligation, to Buy a Security