müügoptsioon

Müügoptsioon, or put option in English, is a financial contract that gives the owner the right, but not the obligation, to sell a specific underlying asset at a predetermined price (the strike price) on or before a certain date (the expiration date). The seller of the put option is obligated to buy the underlying asset at the strike price if the buyer chooses to exercise the option.

Put options are typically used by investors as a form of insurance against potential price declines in an asset they own. If the price of the underlying asset falls below the strike price, the holder of the put option can exercise their right to sell the asset at the higher strike price, thus limiting their losses. Conversely, if the asset's price rises, the put option will expire worthless, and the holder will have lost the premium paid for the option.

Traders also use put options to speculate on a downward price movement. If they believe an asset's price will fall, they can buy a put option. If the price does fall, the value of the put option increases, and they can sell the option for a profit or exercise it to sell the asset at a price higher than the current market price.

The premium paid for a put option is influenced by several factors, including the current price of the underlying asset, the strike price, the time to expiration, the volatility of the underlying asset, and prevailing interest rates. The maximum loss for the buyer of a put option is limited to the premium paid. The maximum profit for the seller of a put option is the premium received, while their potential loss can be substantial if the underlying asset's price falls significantly.