Meaning of “put option” in the English Dictionary

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"put option" in Business English

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put optionnoun [ C ]

uk us also put FINANCE, STOCK MARKET

an arrangement that allows the sale of shares, etc. at an agreed price until or on a particular date:

They want to purchase put options in order to protect against a decline in the market value of the underlying security.
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(Definition of “put option” from the Cambridge Business English Dictionary © Cambridge University Press)