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An option—a right that operates as a continuing proposal—given in exchange for consideration—something of value—permitting its holder to sell a particular stock or commodity at a fixed price for a stated quantity and within a limited time period.

A put is purchased for a fee paid to the person who agrees to accept the stock or goods if they are offered. The purchaser of this right to sell expects the price of the stock or commodity to decrease so that he can deliver the stock or commodity at a profit. If the price rises, the option need not be exercised. The reverse transaction is a call.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

TO PUT, pleading. To select, to demand; as, the said C D puts himself upon the country; that is, he selects the trial by jury, as the mode of settling the matter in dispute, and does not rely upon an issue in law. Gould, Pl. c. 6. part 1, Sec. 19.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Representatives from the Ministry of External Affairs will also participate in the conclave to put across their views on the military ties.
MAY 28, 1982: Weighing 19st and standing 6ft 6ins, the Green Cross man - alias David Prouse, who appeared as Darth Vader in the Star Wars film - put across the road safety message in an enjoyable way.
Even if China succeeds in its attempt to have Taiwan kept outside the assembly, a delegation will still travel to Geneva to put across its case in separate meetings with representatives of other countries.
Scholars, experts, policy-makers and politicians from Pakistan also took part in the moot and put across the country's point of view on this burning international issue.
While it is admirable that the provincial government is putting much effort into beautifying the metropolis, it is also requested that all the banners and decor put across Karachi for the finals should be taken off soon after the final is over.
To sum up, Dawn's 70th anniversary supplements are an authentic eyewitness history of this beleaguered country put across in the right perspective.
Reach is back on the agenda as David Elliott of the SEA continues to put across the UK's finishing industry's point of view to the European Union.
"For us it's just about listening to his ideas and what he wants to put across. He's a fantastic coach.
I couldn't take steps." Salman subsequently clarified he was trying to put across the fact that he used to be exhausted after giving multiple shots where he had to lift co- actors who weighed over 120 kilos.
To put across their point, the authors compare the two states.
It was good article and I thought Joanne Douglas put across perfectly the position the council is in.
"The first things which were put across to the players when Young and Gabbidon took charge was that passion was lacking from our performances.