buyer's option

The trader selling a call has an obligation to sell the stock to the call buyer at the buyer's option.

If it was to be preserved in its present state at the buyer's option, it went into the scale and fetched standard price for old metal.

For example many bonds are convertible into common stock at the buyer's option, or may be called (bought back) at specified prices at the issuer's option.

Although the article casually mentions that some realtors using mortgage computer software may limit the home buyer's options by representing only one or two lenders and may receive referral fees from these lenders, it neglects to discuss the other ways in which such a system falls short of being acceptable.