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This is just like an option on stock: The purchaser has the right, but not the obligation, to buy an asset at an agreed price at an agreed date in the future. Again, like a (covered call) stock option, if the price of the underlying asset drops the holder loses value, but that is softened by...

Interesting concept, Kathryn. There are so many questions spring to mind but I'll keep my eye on the thread and I'm sure they will be answered. I haven't followed the market north of the border but I haven't heard you had the property boom there that we in the rest of the world did, so I take...