An investor who purchases a put option Has the obligation to

An investor who purchases a put option:

Has the obligation to buy a given stock at a specified price during a designated time period.

Has the obligation to sell a given stock at a specified price during a designated time period.

Has the right to buy a given stock at a specified price during a designated time period.

Has the right to sell a given stock at a specified price during a designated time period.

None of the above.

	a.	Has the obligation to buy a given stock at a specified price during a designated time period.
	b.	Has the obligation to sell a given stock at a specified price during a designated time period.
	c.	Has the right to buy a given stock at a specified price during a designated time period.
	d.	Has the right to sell a given stock at a specified price during a designated time period.
	e.	None of the above.

Has the right to sell a given stock at a specified price during a designated time period.