Which option gives the holder the right, but not the obligation to buy an asset by a certain date for a certain price?

Put
ITM
OTM
Call

The correct answer is D. Call.

A call option is a contract that gives the buyer the right, but not the obligation, to buy an underlying asset at a specified price on or before a specified date. The seller of the call option, also known as the option writer, is obligated to sell the asset at the specified price if the buyer exercises the option.

A put option is a contract that gives the buyer the right, but not the obligation, to sell an underlying asset at a specified price on or before a specified date. The seller of the put option, also known as the option writer, is obligated to buy the asset at the specified price if the buyer exercises the option.

An in-the-money (ITM) option is an option that has a strike price that is below the market price of the underlying asset for a call option, or above the market price of the underlying asset for a put option. An out-of-the-money (OTM) option is an option that has a strike price that is above the market price of the underlying asset for a call option, or below the market price of the underlying asset for a put option.