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A futures contract obligates the investor of the contract to either buy or sell a specified amount of a commodity. grants the buyer the right

A futures contract

obligates the investor of the contract to either buy or sell a specified amount of a commodity.

grants the buyer the right to either buy or sell a specified amount of a commodity.

uses standardized strike prices that vary with the type of commodity.

establishes the delivery price based on the selling price of the futures contract.

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