Consider the following statements about option markets and choose the wrong statement

1
Options are financial derivatives that give buyers the right, but not the obligation, to buy or sell an underlying asset at an agreed-upon price and date.
2
The buyer of a call option has the right to buy the underlying stock at a certain price
3
The seller of a put option has the obligation to buy the stock at a certain price
4
All derivative products are options but all options are not derivative products
5
Option contracts in India expire on the last Thursday of the month, where as, option contracts in the US expire on the third Friday of the month.

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