1. An option contract that gives the holder the right to buy a certain quantity (usually 100 shares) of an underlying security from the writer of the option, at a specified price (the strike price) up to a specified date (the expiration date). also called call option.
2. The act of exercising a call option.
3. The right to redeem a callable bond before its scheduled maturity.
4. In banking, a demand to repay a security loan immediately.
5. Mortgage: To announce that the debt in its entirety is due at once.
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