Choice "A" is correct. A put option gives its owner the right to sell a specific security at fixed conditions of price and time. Choice "d" is incorrect. A put option specifies time conditions and is not indefinite.Choice "c" is incorrect. An option to buy is called a call option. A call option gives its owner the right to purchase a specific security at fixed conditions of price and time. Choice "b" is incorrect. An option to buy is called a call option. A call option specifies time conditions and is not indefinite.
