An Option on a Futures Contract, Commonly Referred to as a Futures

Multiple Choice

An option on a futures contract, commonly referred to as a futures option, gives the buyer the right to buy from or sell to the writer a designated futures contract ________.

A) at an uncertain price on the expiration date.
B) at a random price at any time during the life of the option.
C) at a designated price at a specified time during the life of the option.
D) at a designated price at any time during the life of the option.