: The "use-by" date. If the market doesn't drop by this time, the option expires worthless.
Buying is a strategy used to profit from or protect against a decline in the broad U.S. stock market. buying s&p puts
: The "floor" price you choose. If the S&P falls below this, your put gains value. Premium : The upfront cost (your maximum possible loss). : The "use-by" date