Which type of option allows the holder to sell a security in the future?

A put option is designed specifically for the holder to sell a security at a predetermined price, known as the strike price, within a specified time frame. This feature provides the holder with the right, but not the obligation, to sell the underlying asset before the option's expiration date.

The utility of put options comes into play particularly when the holder expects the price of the underlying security to decline. By selling the security at the strike price, they can potentially avoid losses or benefit from the drop in prices.

In contrast, call options give the holder the right to buy a security, while short options refer to selling options in the market, which does not correspond to the right to sell a security. The term "long option" is generally used to refer to options that are acquired (bought), but it does not specify the type of option. Therefore, among the given choices, the put option is distinctly recognized for providing the seller with the opportunity to sell a security in the future.