A put is a type of option contract that gives the buyer of the put the right, but not the obligation to sell a stock or ETF at a given price (Strike Price) if exercised by a specific date (Expiration Date).
If the price of the underlying asset is not below the option’s strike price, then the option will expire worthless.
Otherwise, the owner of a put can choose to sell it, and or if it is in-the-money, the owner can execute the option and sell 100 shares per contract of the underlying security at the strike price.