A Long a Put option is a position in which a trader/investor purchases or “Buys to Open” a Put Option Contract thereby securing the right to sell the underlying asset or security at the pre-determined “strike Price” on or before the pre-determined date “Expiration Date”.
The term “going long” refers to buying a security (not selling one), and applies to any tradable instrument that a trader/investor ”buys to open” including put options.
A trader/investor would buy “Long Puts” in anticipation of the price of the underlying asset falling in value.
