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It is a contract that offers the buyers the right and not the obligation to buy or sell an underlying crypto asset or instrument at a specified strike price. These are used in the trading of cryptocurrencies,  exchange-traded funds (ETFs) and indexes amongst the others. The style of an option dictates the rules governing the option trading. The American and the European option styles are mainly used. In this regard, the options market is a public place to trade the options at a specific strike price and on or before a specific date.

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