: The deadline by which you must exercise your right, or the contract becomes worthless. ⚠️ The Golden Rule of Risk
: The right to buy an asset. You buy a call if you expect the price to go up. option
: The fixed price at which the contract allows you to buy or sell the asset. : The deadline by which you must exercise
are financial contracts that give you the right—but not the obligation—to buy or sell an asset at a set price within a specific timeframe. option
💡 To learn more about advanced strategies like spreads and iron condors, check out the comprehensive Options Educational Center on Charles Schwab or review basic contract definitions on the Put Options Wikipedia Page .