Right to purchase or sell a specific thing at a later date at a concurred price In finance, an option is a contract which conveys its owner, the holder, the right, but not the responsibility, to purchase or sell an underlying property or instrument at a defined strike rate prior to or on a defined date, depending upon the kind of the choice.

Therefore, they are also a kind of asset and have a appraisal that may depend upon a complex relationship between hidden asset worth, time up until expiration, market volatility, and other elements. Options may be traded in between personal parties in over-the-counter (OTC) transactions, or they may be exchange-traded in live, orderly markets in type of standardized agreements.

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