A(n)[blank] gives the holder the right to sell a stated number of shares at a specified price for a limited time.

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A put option gives the holder the right to sell a stated number of shares at a specified price (strike price) for a limited time. This is commonly used as a hedging strategy or to speculate on the decline of a stock's price. Stock index futures contract and interest rate futures contracts are not related to the right to sell shares at a specified price. A call option, on the other hand, gives the holder the right to buy a stated number of shares at a specified price for a limited time.

A(n)[blank] Gives the Holder the Right to Sell a Stated