[Izzy]

Im not an expert on options but have read about them as I thought about doing them myself. Puts and Calls are part of options, You can buy a Put which gives you the right (but not the obligation) to sell X at the strike price specified. Buying a Call option gives you the right (but not the obligation) to buy X at the strike price specified. You can sell Options too but its unlimited risk for limited reward as you only get the premium (the purchase price of the option).