| An underlying security at a specified price (its strike price) for a certain, fixed period of time (until its [expiration.aspx">underlyingsecurity.aspx">underlying security at a specified price (its strike price) for a certain, fixed period of time (until its [expiration). For the writer of a put option, the contract represents an obligation to buy the underlying security from the option owner if the option is assigned. The buyer pays a fee (called a premium) for this right. |
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