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Schweser on put options

Schweser study notes page 157:

in-the-money options: “if x-s >0, a put option is in the money. x-s is the amount of the payoff from immediate exercise, buying a share for S and seling it in the market for a greater price X.”

yes, x-s is the amount of the payoff, but shouldn’t this say “buying a share for s in the market and selling it for greater price X”?, i.e. selling it per the put option to the put option writer for X?

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That right…we’ll buy the share in the “Market” for S and deliver it to the put call writter to receive the strike price X.

So that’s Schweser’s error?

it seems like it…but I am begining to doubt myself a lot these days.

wats the problem with schweser? I dont see it.

Buy a share at S and exercise your option and sell it at X

If X>ST, you can’t “Sell” the underlying at X in the market. Why would the market pay someone more than the market price of the underlying (ST).

You can buy the underlying from the market @ ST and then go to the Put writter to “exercise” your option at X.

Someone did a cut and paste from the call option and forgot to change a word or two. Happens.

I’m Da Church of the faithful, I’m Liao Fengyi, clergywoman mother should have to introduce you to me, I have seen you twice, in which time you are more impressed with everyone I guess in the back of the church at noon to eat noodle face!

As per my understanding also, we “buy from market” & “sell it to Put option writer”.

OK JoeyDVivre, I take it you’re agreeing that Schweser made an error…?

that’s soooo minor, guys

just my 0.0000002 cents

cnd Wrote:
——————————————————-
> OK JoeyDVivre, I take it you’re agreeing that
> Schweser made an error…?

Yep, but I like them anyway.

I’m Da Church of the faithful, I’m Liao Fengyi, clergywoman mother should have to introduce you to me, I have seen you twice, in which time you are more impressed with everyone I guess in the back of the church at noon to eat noodle face!