Morning ablutions and other responsibilities. by Daniel R. Levitan. This morning a phrase popped into my head â âmorning ablutionsâ. I do not believe that I have heard that phrase used in the past thirty or forty years; certainly it is not a common expression these days. But I was pleased that my mind was still functioning, even if in somewhat unpredictable ways.
Definition of 'Put Option'. Definition: Put option is a derivative contract between two parties. The buyer of the put option earns a right (it is not an obligation) to exercise his option to sell a particular asset to the put option seller for a stipulated period of time.
An option is a right to do something and there is usually a charge for that option. An offer could have come in with an option to purchase the property after inspections are completed and the buyer could have put down some amount of money to hold the property while inspections were completed. No one else can buy the house while in the option period.