CG12301 | Options: put option or call option
From HM Revenue & Customs · Capital Gains Manual
The terms put option and call option are frequently used
A PUT OPTION is an option binding the grantor to buy.
A CALL OPTION is an option binding the grantor to sell.
Thus if the option is exercised the asset is
put into the hands of the grantor - a put option, or
called for from the grantor - a call option.
If the option is not exercised within the time (or on the day) specified, the option expires.