Understanding Index Options: Call vs. Put Understanding Index Options: Call vs. Put Index options are financial instruments that give investors the right, but not the obligation, to buy or sell an underlying stock index at a predetermined price before the option expires. Kiran Shroff / Thursday, January 30, 2025 0 34 Article rating: 5.0 Index options are financial instruments that give investors the right, but not the obligation, to buy or sell an underlying stock index at a predetermined price before the option expires. Read more