put options

[Alfanovice@domain.elided]

I do not know the exact details regarding the contract between Fiat and GM.  
But, if it is a simple put option for Fiat, then they have the right but not 
the obligation to sell by a specified time at a specified price.  It is by 
definition Fiat's option.  This is clearly not an exchange listed option, so 
the rules about these do not apply.  It all depends upon the contract 
language between the two parties.  The main point is that an option is just 
that, an option.  
Brian Ancelin
71 Spider
(also hard earned MBA in finance)
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