These are the basic European and American calls and puts.
If you buy this option then you have the right but not obligation, to buy an asset at expiry for the strike price. If you sell such an option, then the buyer has those rights.
If you buy this option then you have the right but not obligation, to sell an asset at expiry for the strike price. If you sell such an option, then the buyer has those rights.
If you buy this option then you have the right but not obligation, to buy an asset up to expiry for the strike price. If you sell such an option, then the buyer has those rights.
If you buy this option then you have the right but not obligation, to sell an asset up to expiry for the strike price. If you sell such an option, then the buyer has those rights.