> For the complete documentation index, see [llms.txt](https://docs.arrow.markets/arrow-markets/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.arrow.markets/arrow-markets/learn/options-beginner/beginner-strategies/purchasing-a-put.md).

# Purchasing a Put

A ***long put option*** is a bearish strategy where an investor buys a put option, typically when they anticipate that the price of the underlying asset will fall significantly before the option expires. The buyer of the put option pays a premium to the seller and profits if the underlying asset price stays below the strike price plus premium paid.