An investor who exercises a call option on a S&P 500 ETF will
A) purchase ETF shares at the strike price.
B) receive a cash settlement equivalent to the difference between the strike price and the current level of the index.
C) receive a cash settlement equivalent to the difference between the strike price and 100 times the current level of the index.
D) receive a cash settlement equivalent to the difference between the strike price and the current price of the ETF.
Answer: A
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____ modify verbs, adjectives, or other adverbs
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