If a party has the right but not the obligation to buy the underlying asset,the party has a(n)_____________________;if the party has right but not an obligation to sell the underlying asset,the party has a:

Question

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A call option gives the holder the right but not the obligation to buy an asset at a specified price within a specific time period, while a put option gives the holder the right but not the obligation to sell an asset at a specified price within a specific time period.

If a Party Has the Right but Not the Obligation