The correct answer is not listed among the options you provided. However, the investment instrument that allows the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price on or before a specific expiration date is called options.
None of the given options (A) Stocks, (B) Future contracts, (C) Mutual funds, or (D) Bonds fit this description.
If you were to choose from those options, the closest financial instrument would be (B) Future contracts, as they are related to the underlying assets, but futures contracts obligate the parties to buy or sell the asset, rather than giving a right without obligation as options do.