Rights are call options issued to current owners of the stock and normally expire within a short period of time.

Name: Rights are call options issued to current owners of the stock and normally expire within a short period of time.
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Quizplus · Accepted Answer

Rights are indeed options given to current shareholders that allow them to purchase additional shares at a predetermined price before a certain date, typically expiring if not exercised within a short period.

Rights Are Call Options Issued to Current Owners of the Stock