Derivatives
Put Option
Right to sell a security at a set price — gains value when the underlying falls.
A put option gives the buyer the right, but not the obligation, to sell a specific underlying at a fixed strike price within a defined window. Puts are used to hedge existing long positions or as a targeted bet on falling prices.
Puts are reportable in 13F filings but appear as a separate entry labelled "PUT" in the "Title of Class" column. Famous example: Michael Burry's puts on US banks ahead of the 2008 financial crisis became public via later 13F filings.