Question: Select the statement that is not true with respect to an option contract: A call option provides the holder with the right to buy, whereas

Select the statement that is not true with respect to an option contract:
A call option provides the holder with the right to buy, whereas a put option provides the right to sell.All options can always be traded on a secondary market.A holder of an option contract is able to exercise it or allow it to lapse.Option contracts are a type of derivative security.Under an option contract, the holders of the instrument are not obliged to complete the transaction on the underlying asset.

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