Put Option vs Strike Price

A financial contract giving the buyer the right, but not the obligation, to sell an underlying cryptocurrency asset at a specified strike price on or before expiry; buyer pays premium upfront; profit occurs when spot price falls below strike minus premium paid.

The fixed price at which the holder of an options contract has the right to buy (call) or sell (put) the underlying cryptocurrency asset; also termed exercise price; determines moneyness (in-the-money, at-the-money, out-of-the-money) at any given moment.