Call or Put are the names of options that you can choose when you’re dealing with a trade. A Call option basically allows you to buy a stock at certain time and a particular price that it is available for at that time. A put option allows you to sell a stock at a particular price and time. The intrinsic value plus the premium for the time is what makes up the value of a call or put option. The intrinsic value is nothing but the current value in the market of that stock, whereas the time premium changes which different trading times in the market.