Which of the following most appropriately describes the meaning of the term ‘option forward’ ?

In foreign exchange markets, an 'option forward' (or forward this choiceontract) is a 'Forward contract entered into for buying or selling over a period of time' rather than on a single fixed maturity date. Under an option forward, the exchange rate is fixed upfront, but the customer has the flexibility (option) to deliver or take delivery of the foreign currency on any business day within a specified delivery window (e.g., from the 1st to the 30th of a given future month).