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What Is A Call Option?

A focused guide to the call option — the right, but not the obligation, to buy. How a call pays off, its break-even, the leverage that makes it appealing and dangerous, the difference between buying and writing a call, and when it makes sense.

14 min readPublished 25 June 2026

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What Is An Option?

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What Is An Option?

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What Is A Put Option?

A focused guide to the put option — the right, but not the obligation, to sell. How a put pays off, its break-even and capped maximum gain, its dual use as a bearish bet and as portfolio insurance, the difference between buying and writing a put, and a full worked example.

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