The strike cost might be set by reference to the spot cost (market value) of the hidden security or product on the day a choice is secured, or it might be repaired at a discount rate or at a premium. The seller has the matching obligation to satisfy the deal (i.An alternative that conveys to the owner the right to purchase at a specific price is described as a call; a choice that communicates the right of the owner to offer at a particular price is referred to as a put. The seller might approve a choice to a purchaser as part of another deal, such as a share issue or as part of a staff member reward scheme, otherwise a purchaser would pay a premium to the seller for the choice.