The predetermined amount that will have to be paid if an option is exercised is the:

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The strike price is the predetermined amount that the buyer has to pay if they decide to exercise the option. The contract price refers to the overall price of the agreement between the buyer and the seller, while the option price is the cost of buying the option itself. The actual price may refer to the current market price of the underlying asset, but it is not relevant to the predetermined amount that needs to be paid upon exercising the option.

The Predetermined Amount That Will Have to Be Paid If