EXCHANGE-TRADED OPTIONS 

Contract Terms             standard
Delivery                   ...........
Trading                    ...........
Credit Risk                ...........
Liquidity                  ...........

a) anticipated in 20-30%of all transactions.
b) anticipated in only 2-3%, sometimes up to 10%of all transactions.
c) expected to be made on the expiration date.
• d) expected to be made sometime before the option expires.
  No. Few option contracts actually result in delivery.

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