Answer: Options only

**Explanation:** Options require an upfront payment (called the premium) by the buyer at contract initiation. This premium is paid to the seller for the right, but not the obligation, to buy (call option) or sell (put option) the underlying asset at a specified price. Forwards, on the other hand, do not require an upfront payment at contract initiation. They are agreements to buy or sell an asset at a future date for a price agreed upon today, and no money changes hands until the contract settlement date. Therefore, only options require an upfront payment by the buyer at contract initiation.

Author: LeetQuiz .