caput > define

noun

• A headlike protuberance on an organ or structure.
  • usage: "the caput humeri is the head of the humerus which fits into a cavity in the scapula"
• The upper part of the human body or the front part of the body in animals; contains the face and brains.
  • usage: "he stuck his head out the window"
  • synonyms: head

• (n.) The head; also, a knoblike protuberance or capitulum.
• (n.) The council or ruling body of the University of Cambridge prior to the constitution of 1856.
• (n.) The top or superior part of a thing.

Caput is an exotic option. It represents a call option on a put option. That is, you purchase the option to buy a put option at a particular price on or before the expiration date.