Question

1. An individual who goes long in an American call option position _____.

   		commits to selling the underlying security on or before contract maturity
   		commits to purchasing the underlying security on or before contract maturity
   		has the right to buy the underlying security at the market price on or before contract maturity
   		has the right to buy the underlying security at the strike price on or before contract maturity

Answer 1

As you are going long, you can buy the security. A call option given you the right to buy a security amd is jot a commitment. Also, american options can be exercised on or before the given maturity date. There is a strike price mentioned in the agreement at which you can buy/ sell the security. Therefore, an individual who goes long in an american call option position-

has the right to buy the underlying security at the strike price on or before contract maturity

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