1. Which of the following is true about the seller of a put option?
a They have the right to buy the underlying
b They have the right to sell the underlying
c They have the obligation to buy the underlying
d They have the obligation to sell the underlying

2. Which of the following is true about the holder of a call option?
a They have the right to buy the underlying
b They have the right to sell the underlying
c They have the obligation to buy the underlying
d They have the obligation to sell the underlying

3. Which of the following is true about the seller of a call option?
a They have the right to buy the underlying
b They have the right to sell the underlying
c They have the obligation to buy the underlying
d They have the obligation to sell the underlying

4. Which of the following is true about the holder of a put option?
a They have the right to buy the underlying
b They have the right to sell the underlying
c They have the obligation to buy the underlying
d They have the obligation to sell the underlying