Strike Price is the price at which an option can be exercised to buy or sell the underlying stock or futures contract.
S&P 500 Index (Standard and Poor’s 500 Index) is a composite of the 500 most actively traded public companies in all ten economic sectors of the U.S. It is maintained by Standard and Poor’s, a division of the Parent company McGraw-Hill.
A Short Sale is a trade in which the investor borrows a security and sells it to another investor in the market.
Security is any financial instrument that represents a financial value.