Put

An option contract that gives the holder the right to sell a fixed number of units of the underlying instrument at a set price on or up to a set date (e.g., with physical delivery). The right to physical delivery can be replaced by cash settlement (i.e., for equity index derivatives).

Literatur:

Bloss, Michael; Ernst, Dietmar; Häcker, Joachim: Derivatives, 283 Seiten, 2008
[Dieser Titel bei Oldenbourg]