commodity option

  • "Commodity option":

    (a) Means any account, agreement or contract giving a party thereto the right but not the obligation to purchase or sell one or more commodities or one or more commodity contracts, whether characterized as an option, privilege, indemnity, bid, offer, put, call, advance guaranty, decline guaranty or otherwise; and

    (b) Does not include an option traded on a national securities exchange registered with the federal Securities and Exchange Commission.

    Oregon Legislature 1
    See also offer