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TeachMeFinance.com - explain Options contract Options contract The term 'Options contract ' as it applies to the area of agriculture can be defined as ' An option contract gives the buyer the right, but not the obligation, to buy (call option) or sell (put option) a futures contract at a specific price within a specified period of time, regardless of the market price of that commodity'. Previous 5 Terms: Option value Option writer, futures Optional delivery commitment Optional flex acreage Optional Supplemental Benefits Next 5 Terms: Options contracts, futures optology optometer optometry optophobia About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.