An option strategy in which a put option is written against a sufficient amount of cash (or T-bills) to pay for the stock purchase if the short option is assigned.
See Also:
Put: An option contract that gives the holder the right to sell the underlying security at a specified price for a certain fixed period of time.
SEC: The Securities and Exchange Commission. The SEC is an agency of the federal government which is in charge of monitoring and regulating the securities industry.
