Options basics — calls and puts

Options give you the right, not the obligation, to buy (call) or sell (put) an underlying at a strike price before expiration. Premium reflects intrinsic value plus time value.

Buying a call profits when the underlying rises above your strike plus premium paid. Buying a put profits when the underlying falls below your strike minus premium paid.

Use the chain view to compare strikes and see illustrative bid/ask columns. Always confirm contract specs and your broker's margin rules before trading.