An option holder, according to Options Clearing Corp. rules, can exercise the option until: (A) 4 P. M. Eastern time on the business day that immediately precedes the Saturday of expiration. (B) 5:30 P. M. Eastern time on the third Friday of the expiration month. (C) 4 P. M. Eastern time on the last Friday of the expiration month. (D) 11:59 P. M. Eastern time on the third Friday of the expiration mont

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: