An investor held 500 rights to purchase ABC shares for a subscription price of $13.00 per share. Just before expiration, ABC was trading at $10 per share. What should the investor do? Buy more rights. Sell the rights back to the issuer. Allow the rights to expire. Exercise the rights.

A writer of one ABC November 20 Put wishes to offset this position. Which action should he take? Buy the option to close. Assign the holder of the option. Sell the option to close. Exercise the option.