An investor (the buyer) purchases a call option from a seller. On the expiration date of a call option:
A) the buyer has the obligation to buy the underlying asset and the seller has the obligation to sell it.
B) the buyer has the right to buy the underlying asset and the seller has the obligation to sell it.
C) the buyer has the obligation to buy the underlying asset and the seller has the right to sell it.
D) None of the above.
Correct Answer:
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