Converted put

Converted put

Converted Put

The purchase of a call option and the short sale of the underlying asset. This is effectively the same as buying a put option because one makes a profit if the underlying asset decreases in price. For this reason, a converted put is also called a synthetic put.
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References in periodicals archive ?
A second-minute try by fullback Geraint O'Driscoll that he converted put Pooler in front, but Aberavon hit back as Jamie Davies placed a penalty and converted a try by wing Ricky Thomas and fellow wing Richard Carter added another.
A try from Steven Forbes just after the hour mark, that was again converted by Boston restored the balance, but a fine individual try from Blackwood's Wes Cunliffe that Lloyd converted put the score back to 32-24 with 10 minutes remaining.
A late penalty from Bridgnorth's former Moseley and Stourbidge fly-half Simon Pennington and a try from Luctonians centre Will Crawforth which Pennington also converted put paid to a brave fightback by the visitors.