Which one of the following statements correctly describes your situation as the owner of an American call option?

Multiple Choice

• You are obligated to buy at a set price at any time up to and including the expiration date.

• You have the right to sell at a set price at any time up to and including the expiration date.

• You have the right to buy at a set price only on the expiration date.

• You are obligated to sell at a set price if the option is exercised.

• You have the right to buy at a set price at any time up to and including the expiration date.