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10. An option to buy is known as a option. 11. An option to sell is a option. 12. The to buy or sell the

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10. An option to buy is known as a option. 11. An option to sell is a option. 12. The to buy or sell the option is known simply as the option's price. 13. The price at which the option may be exercised is the price. 14. Electing to buy or sell the underlying commodity or security is known as the option

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