来自《耶鲁大学开放课程：金融市场 第23集 第23集》

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  I'll write the word.
  我先把这个名词写下来
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  It's a contract that has an owner
  期权是一种合约
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  and the owner of the option contract
  其持有人
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  has rights to find in the contract
  可以在合约规定的某个时刻
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  either to buy or sell some thing--
  以某个事先约定的价格买入或卖出
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  let's say a share of stock--at a specified price and specified date.
  某种资产 比如一手股票
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  There are two kinds; there's a put and a call.
  期权分为看跌和看涨两种
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  A put option is the right to sell.
  看跌期权赋予其所有者卖出资产的权利
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  It's typically a hundred shares, so we'll say a hundred shares
  通常每份期权对应一手股票
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  of a company; let's say it's Google.
  比如说一手股谷歌的股票
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  The option would have--if it was a put option and there was a price,
  对于一份看跌期权来说
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  then you would have the right up--let me see, there's the exercise price,
  合约中会规定一个协议价格