1. option to buy (or call) an asset at a specified price within a specified period.

2. right to buy 100 shares of stock at a specified price within a specified period.

3. process of redeeming a bond or preferred stock issue before its normal maturity. A security with a CALL PROVISION typically is issued at an interest rate higher than one without a call provision. This is because investors demand itthey look at yield-to-call rather than yield- to-maturity.