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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