Name and discuss five important real options that exist in your life. Be sure to list the type of option, who is long and short, the underlying asset, the exercise price, and whether you think the option is in, at, or out-of-the money. You do not need to value the options, just identify them (see the examples in this presentation, http://www.investopedia.com/articles/professionaleducation/09/mba-real-costs.asp). Be sure to include enough of a description to allow an outside reader to understand the choice you are facing. There is no required minimum or maximum length. My expectation is this should take about 2 hours to complete.