Protective Put

### What is a Protective Put? Also called a Married Put. This is exactly what it sounds like — insurance. You own the stock and buy a put below the current price as a floor. If the stock tanks, your losses stop at the strike, minus what you paid for the put. If the stock climbs, you keep every rupee of upside, just slightly reduced by the premium you spent. I recommend this to anyone holding a large, concentrated position ahead of an uncertain event — budget announcements, quarterly results, RBI policy days — where you want to stay invested but don't want to be blindsided.