I chose option $2$ and got it marked wrong. Can you explain why?

The seller of an option has the $\_\_\_\_\_\_\_\_$ to buy or sell the underlying asset, while the purchaser of an option has the $\_\_\_\_\_\_\_\_$ to buy or sell the asset.

Question $25$ options:

$1)$obligation; right

$2)$right; obligation

$3)$obligation; obligation

$4)$right; right