An "Option" Is

Multiple Choice

An "option" is:

A) a contract giving the seller (writer) the right, but not the obligation, to buy or sell a given quantity of an asset at an specified price at some time in the future.
B) a contract giving the owner (buyer) the right, but not the obligation, to buy or sell a given quantity of an asset at a specified price at some time in the future.
C) not a derivative, nor a contingent claim, security.
D) unlike a futures or forward contract.