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An investor with no position in the underlying stock writes one XYZ 55 put and receives the premium. Which statement correctly describes the writer's position?
A
The writer is obligated to deliver 100 shares at $55 per share if assigned.
B
The writer has the right to buy 100 shares at $55 per share.
C
The writer is obligated to buy 100 shares at $55 per share if assigned.
D
The writer has the right to sell 100 shares at $55 per share.