EFTA Document EFTA01362944

GLOSSARY - OPTION DEFINITIONS Put Option ("Puts") - An option contract giving the owner the right, but not the obligation, to gain short exposure to an underlying security at a specified price within a specified time. Selling an index put results in net premiums received. The risk of monetary loss is quantifiable as: (strike price of the option written) (number of option contracts)* (contract multiplier), and is reduced further by initial net premium received. Payoffs at Expiration: