MARRIED PUT
\mˈaɹɪd pˈʊt], \mˈaɹɪd pˈʊt], \m_ˈa_ɹ_ɪ_d p_ˈʊ_t]\
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Purchaser owns the underlying stock in this type of put option. It protects against the decline in the stock's price as the owner can sell the stock at a higher price prior to the option's expiration date. If the stock's price increases or remains the same, the option expires worthless .
By Henry Campbell Black
