The relationship between the prices of the underlying stock, a call option, a put option, and a riskless asset is referred to as a protective put.

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The relationship described is known as the Put-Call Parity, which establishes a theoretical relationship between the prices of European put and call options with the same strike price and expiration date. A protective put refers specifically to a strategy involving the purchase of a put option to hedge against potential losses in the underlying stock.

The Relationship Between the Prices of the Underlying Stock, a Call