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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 ?
More significantly, more millennials are reportedly putting off taking a vacation from work (43 percent) and doing something on their bucket list (55 percent) than any other generation.
Mwiti said Meru National Polytechnic students helped in putting off the fire.
| There may be gains to be made from putting off taking a defined benefit pension: You'd be forgiven for thinking that as soon as you had accrued the maximum pension allowable in a defined benefit pension scheme, you may as well start drawing it.
In addition, Hsu said putting off the mandatory day off every week could only be done after being approved by governmental agencies and the Ministry of Labor, and that in principle, workers could still enjoy one to two days off on a weekly basis.
The gender gap in putting off care narrows with each increasing age bracket, but even among adults aged 65 and older, women are more likely to report holding off on receiving their own or another family member's medical treatment.
Lawrie, 47, has been putting off the op for a number of years - but continual pain from a bone spur and cist has forced him reluctantly into hospital.
Almost four in 10 Americans who enjoy spending money more than saving it (37%) have not engaged in any of the 10 cost-cutting or income-generating actions mentioned previously, such as putting off a major purchase, putting off buying a car or selling some of their possessions.
In addition, 31 percent of Rhode Island residents reported delaying or putting off needed medical care because of cost and about 47 percent said they got sicker before receiving care.
WE each have an average of eight tasks on our to-do lists that we are putting off and most of us will take five weeks to get round to them.
Gallup found that the percentage of survey participants who reported putting off any sort of medical treatment because of cost fell to 57 percent this year for the uninsured, from 59 percent in 2013.
The percentages putting off treatment for both serious and nonserious conditions have nearly doubled since 2001, Gallup said.