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seller's option

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noun
  1. (on the New York Stock Exchange) a special transaction that gives the seller the right to make late delivery of a security within a specified period, ranging from 5 to not more than 60 business days for stocks.

Origin of seller's option

First recorded in 1930–35
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018