Seller's option. A seller's option is, in effect, a put. In stocks sold on seller's option the seller
may, when the option is for more than three days, put (deliver) the stock on any day within the
specified time on one day's notice to the buyer.  In a contract for four or more days the buyer,
unless the contract is flat (without interest), pays to the seller interest at the legal rate on the price
of the stock up to the day of delivery. The amount of a dividend becoming due during the
pendency of a contract is payable by the seller to the buyer.