The put's value moves with the marketThree main factors move a put's price once the trade is open:Asset price: In our example, the put's value generally moves opposite to Nvidia's stock. IV alone, even with the asset's value unchanged, can move a put's price. Both can nudge a put's price a little. How a short put worksThe price of a short put moves for the same reasons a long put's price does. For example, an investor holding 100 Nvidia shares, currently at $212.26, wants to protect against potential losses.