Also known as: Married Put
Long shares + buy put as downside hedge. Caps loss if the stock falls.
Shape illustration on a normalized underlying — open the Lab below to price it on a real option chain.
Own 100 shares, buy a put beneath them. Whatever the stock does, you can sell at the strike — a floor under the position.
Holding through earnings or a risky stretch when selling the shares is not an option (taxes, conviction, lockups).
Insurance costs money — repeatedly buying puts is a persistent performance drag. Price the protection against the risk it removes.
New to options? Start with the free curriculum — or see which strategy fits your outlook.
Educational content — not investment advice. Options involve substantial risk and are not suitable for every investor. All trading on Opus Options Trading is simulated.