What is a Put option , as it relates to stock and capital gains ?

A Put option is an option to sell a given number of shares of a stock (usually 100)on or before a specified future date at a stated striking price. The striking price of the put is close to the market price of the underlying stock at the time of issuance. The acquisition of a put is treated as a short term capital sale if you hold substantially identical securities short term at the time you buy the put.