A futures contract $\_\_\_\_\_\_\_\_\_\_.$

Group of answer choices

is a contract to be signed in the future by the buyer and the seller of a commodity

is an agreement to buy or sell a specified amount of an asset at a predetermined price on the expiration date of the contract

is an agreement to buy or sell a specified amount of an asset at whatever the spot price happens to be on the expiration date of the contract

gives the buyer the right, but not the obligation, to buy an asset some time in the future