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Question 6 1. Define each of the following terms: Call option Put option Strike price or exercise price Expiration date Exercise value Option price Time

Question 6 1. Define each of the following terms:

Call option

Put option

Strike price or exercise price

Expiration date

Exercise value

Option price

Time value

Writing an option

Covered option

Naked option

In-the-money call

Out-of-the-money call

LEAPS

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