Put Option
A contract that gives you the right to sell the underlying at a set price — your bearish bet, or insurance for a long position.
Definition
A put option (PE on NSE) gives the buyer the right, but not the obligation, to sell the underlying at a fixed strike price on or before expiry. The buyer pays a premium; the seller (writer) receives it and is obliged to buy the underlying at the strike if assigned.
Why it matters
A put is the simplest way to take a bearish view, or to hedge a portfolio against a fall, with loss capped at the premium. As markets drop, puts gain value — so rising put open interest and volume on the chain often flag where traders see downside risk or are buying protection.
Example
NIFTY spot is 22,500 and you buy a 22,400 put for a premium of 110. If NIFTY falls to 22,100 by expiry, the put is worth 300 (its intrinsic value) — a profit of 190 per unit. If NIFTY stays above 22,400, the put expires worthless and you lose only the 110 premium.
See put prices live
TradePulse's option chain shows live put (PE) premium, OI and IV at every strike so you can size a bearish or hedging trade.