 Welcome to this brief trailer video of the course on put options. For some reason, many traders have a big problem in understanding put options when they first start with options. That's an irony because we all have experience with put options in real life. However, to understand it from a financial standpoint, we would need to do a brief recap of the call option which we did in the previous course. And if you haven't taken that course, I would highly recommend that you do so because there are certain fundamental concepts that are explained in that course. The best way to understand put options is by using a simple example that we probably all have used in our real lives and that is insurance. Whenever we buy insurance, we're buying a put options contract. So think about it this way. If you bought insurance on your car for $20,000 and let's say you paid a premium of $1,000 for it. This is a put option. You've bought the put option contract and the contract has been sold to you by the insurance company. You're going to learn two things about put options. One is it is a right to sell an asset, whether it's a car, whether it's a stock, whether it's a house, it doesn't matter. It's the right to sell any asset at a certain predetermined pre-agreed price. The second thing you're going to learn about put options is that the value of a put option increases if the value of that asset goes down. So it's a bearish instrument. Whenever the value of the asset goes down, the value of the put option increases. So think of this car worth $20,000. You paid a premium of $1,000 and let's say it gets totaled and goes down to the value of zero. However, the insurance company is still liable to pay you that $20,000. What this means is you have a contract to sell a particular asset at $20,000 when the value of that asset has gone down to zero, which means your put option, which might not have been worth much before it got totaled, now it's suddenly worth $20,000. That's the way you have to look at put options. So put options increase in value as the value of the asset goes down and it's a right to sell an asset. But now we have to look at all of this in the financial market terms. And so that's what you're going to learn in this course. Thank you.