The buyer of a European put has the _____ to _____ at the specified price _____ the expiration date.

A) option; buy; on or before
B) option; sell; on or before
C) option; sell; on
D) obligation; buy; on or before
E) obligation; sell; on

European Put

A type of option contract that gives the holder the right, but not the obligation, to sell a specified asset at a predetermined price before or at the option's expiration date, but only exercisable in Europe.

Specified Price

A definite price point set in a contract or agreement, often referring to the predetermined price in financial transactions.

Expiration Date

The date on which an option, right, or warrant expires, or the date when a perishable product is no longer considered safe or effective to use.