A registered representative completes the firm's standard options worksheet for a customer to illustrate the potential profits and risks of a covered call writing strategy. At or prior to sending the worksheet to the customer, which statement is true?

Explanation:

The customer must receive the latest Option Disclosure Document. Prior to the first use, the option worksheet must have been approved by the firm's designated Registered Option Principal

The option disclosure document (ODD) is a publication issued by the Options Clearing Corporation (OCC) that serves as an important guide for options traders. The detailed document, formally titled Characteristics & Risks of Standardized Options, is extremely necessary for beginner options traders.

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1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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