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.
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.
  No. The clearing house does not make the decision to exercise. It only assigns the exercise to someone who is short.

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