Template:Nutshell Equity Derivatives 2.3(a)

2.3(a) Call. A “Call” is an Option Transaction where the Buyer:

(i) Cash Settlement: may exercise a cash-settled Call if the Settlement Price exceeds the Strike Price, to receive an Option Cash Settlement Amount from Seller; and

(ii) Physical Settlement: where the Call is physically-settled, buy Shares (or Baskets) from Seller at the Settlement Price,