Selling calls gives investors immediate cash as well as the potential for further gains in return for capping those gains at the strike price.

出售看涨期权令投资者获得现金，同时还有可能在将来获利，代价是期权执行价为股票的收益封了顶。

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A put option is an agreement in which the buyer has the right (but not the obligation) to exercise by selling an asset at the strike price on or before a future date;

看跌期权亦为一种协议，在该协议中，买方有权（但非义务）以履约价格在未来某日或未来某日之前出售某一资产；

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A put is an option that gives the buyer the right, but not the obligation, to sell the underlying futures contract at the strike price on or before the expiration date.

看跌期权赋予买方以权利，但不必负有义务，在期权到期日当天或者到期之前，按照敲定的价格卖出相关期货合约。

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Buying puts allows you to sell or put the stock to someone else at the strike price you have purchased.

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This strategy has limited risk: If the stock climbs to the sky, you simply deliver your shares at the strike price to fulfill the contract.

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However, the primary point from a risk management perspective is: am I comfortable selling the stock at the strike price plus the premium received?

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