An uncovered put, also known as a naked put, is an options trading strategy where an investor sells put options without holding an offsetting position in the underlying security. In other words, the investor writes (sells) put options without owning the corresponding shares of the underlying stock.

When an investor sells an uncovered put, they are obligated to buy the underlying stock at the strike price if the option is exercised by the buyer. This strategy is typically employed by traders who believe the price of the underlying stock will rise or remain stable.

Uncovered puts carry a higher level of risk compared to other options strategies because the potential losses are unlimited. If the price of the underlying stock falls significantly, the investor may incur substantial losses when forced to buy the stock at the strike price.

It's important for investors considering this strategy to have a thorough understanding of options and their associated risks, as well as the financial ability to cover any potential losses that may occur.