Put Strategies STRATEGY: EXAMPLE: Stock Price at Expiration 53 52 Long Put Buy SSO Put 2 Long Put PAL) PAL) LONG PUT 5 3 51 50 2 49 1 Stock Price 0 45 50 55 47 46 45 -3 44 Short Put Sell S50 Put 2 Short Put PAL) PAL) 5 STRATEGY: EXAMPLE: Stock Price at Expiration 53 SHORT PUT 3 52 2 SI 50 1 49 Stock Price 50 55 45 48 47 46 -4 44