Chapter 04 · Section 4.1

Price Specifications

Buy 3 Calls CBOE S&P 100 Index March 225 or better. In this case, " ... or better" means:

a) " ... or better not buy the option"
b) " ... or buy a better option"
• c) "you may pay $225 or a better price"
  No. $225 per call option would be rather expensive for any S&P 100 call.
  d) It does not make sense.

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