“option” means an agreement that provides the holder with the right, but not the obligation, to do one or more of the following on terms or at a price established by or determinable by reference to the agreement at or by a time established by the agreement:
(1) Receive an amount of cash determinable by reference to a specified quantity of the underlying interest of the option.
(2) Purchase a specified quantity of the underlying interest of the option.
(3) Sell a specified quantity of the underlying interest of the option;