Protective Put: Ex Suppose you bought 100 shares Amazon (AMZN) when it was $1,000, now it's $1,500 but you haven't sold it. So the unrealized gain will be $50,000. You don't want to sell it yet, but you worry the price might drop and you will loose your unrealized gain. What should you do? You can buy some amazon put. Currently AMZN 1500 May 11th put cost about $46. 1 contract (e.g. 100 shares) cost you $4,600. What happens to your net gain if we have the following possible prices at May 11th? $800 $1000 $1500 $1600 Stock Only $200 X 1000 $500 X 100 $600 X 100 With protective put