In everyday speech the term option often just means “choice,” whereas in finance it refers specifically to the right to buy or sell an asset in the future on terms that are fixed today. Which of the following are the odd statements out? Are the options involved in the other statements puts or calls?

(a) “The preferred stockholders in Chrysalis Motors have the option to redeem their shares at par value after 2009.”

(b) “What I like about Toit à Porcs is its large wine list. You have the option to choose from over 100 wines.”

(c) “I don’t have to buy IBM stock now. I have the option to wait and see if the stock price goes lower over the next month or two.”

(d) “By constructing an assembly plant in Mexico, Chrysalis Motors gave itself the option to switch a substantial proportion of its production to that country if the dollar should appreciate in the future.”