PUT OPTION Definition

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PUT OPTION is the right but not the obligation to sell an underlying at a particular price (strike price) on or before the expiration date of the contract. Alternatively, a short forward position with an upside insurance policy.

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STEP LEASE is a type of lease that outlines or stipulates the expected annual increases in the tenants base rent based on an approximation of what the landlord believes what the landlord's expenses may be.

CASH IN BANK literally means coin, currency, and cash items on deposit.

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