Question: When a futures call option on a commodity is exercised the option owner receives a futures contract on the commodity plus a cash payment equal

When a futures call option on a commodity is exercised the option owner receives a futures contract on the commodity plus a cash payment equal to the difference between the:

exercise price and the strike price.

exercise price and the current options price.

spot and forward futures prices.

strike price on the option and the current futures price.

current options price and the current futures price.

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