Chapter 02 · Section 2.1

COMEX gold Futures

Suppose Victor is short a COMEX April 350 gold futures option

This futures option can be exercised by:

• a) the person who originally bought the option Victor sold.
  No. That is not necessary in exchange-traded options. Anyone who bought the option has the right to exercise it. The clearing house accepts the exercise order coming from a long holder and assigns it to a short holder.
  b) any person who is long a COMEX April 350 gold futures option.
  c) any person who is short a COMEX April 350 gold futures option.
  d) the clearing house.

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