outright option definition
outright option. – means an option in which the Underlying Interest is a Future. A buyer of an outright option has the right, but not the obligation, to buy or sell a specified quantity of the Future, at a specified price within a specified period of time, The seller of an outright option has the obligation to take the opposite side of the Future, from the option buyer, at the exercise price if the option is exercised. See also “calendar spread option.”