Question 1

• A call option holder is______. (the call option buyer? the call option seller? the broker?)
• A put option holder is______. (the call option buyer? the call option seller? the broker?)

Question 2

• If a call option buyer is exercising her call option and buys a share of underlying stock at exercise price, from whom does she buy this share of stock?
• If a put option buyer is exercising her put option and sells a share of underlying stock at exercise price, to whom does she sell this share of stock?