The writer of a call/put option is the one who receives the option premium and is thereby obliged to sell/buy the asset if the buyer exercised on him.
If you spend more than 13 minutes analyzing economic and market forecasts, you have wasted 10 minutes.
The last price paid for a futures contract on any trading day. Settlement prices are used to determine open trade equity, margin calls and invoice prices for deliveries. Also referred to as Closing Price.