The price of an option the sum of money that the option buyer pays and the option seller receives for the rights granted by the option. Chicago Board of Trade glossary
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The option price. Bloomberg Financial Dictionary
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It is the price paid by a buyer to acquire the option right. The amount is typically expressed as pence per share. London Stock Exchange Glossary
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The price paid for an option. The premium comprises the intrinsic value of the instrument plus time value of controlling that instrument for a set period. It is paid by the holder to the writer of the option.
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option premium UK US noun [C]
► FINANCE, STOCK MARKET the price for an option (= the right to buy shares, etc. at a particular price)
Financial and business terms. 2012.