李攀 发表于 2014-5-21 18:25 
黄达得金融学认真看,思考。。
Hi buddy, let's figure it out together.
In capital market, your first term called "call" option, the other is called "put".
A call option, is a financial contract between two parties, the buyer and the seller of this type of option.
The buyer of the call option has the right, but not the obligation to buy an agreed quantity of a particular commodity or financial instrument (the underlying) from the seller of the option at a certain time (the expiration date) for a certain price (the strike price). The seller (or "writer") is obligated to sell the commodity or financial instrument to the buyer if the buyer so decides. The buyer pays a fee (called a premium) for this right.
On the contrary, put option is a stock market device which gives the owner the right, but not the obligation, to sell an asset (the underlying), at a specified price (the strike), by a predetermined date (the expiry or maturity) to a given party (the buyer of the put). Put options are most commonly used in the stock market to protect against the decline of the price of a stock below a specified price.
If the price of the stock declines below the specified price of the put option, the owner of the put has the right, but not the obligation, to sell the asset at the specified price, while the buyer of the put, has the obligation to purchase the asset at the strike price if the seller uses the right to do so (the seller is said to exercise the put or put option).
In this way the seller of the put will receive at least the strike price specified even if the asset is worth less.
I hope this helps my friend.