Really? I would have thought that since you can make a put bet at any time, that you can take it down at any time as well. Besides, when did you "give up a chance to win on 7 or 11? Are you confusing a Put bet with a Come bet?...
Based upon that little tidbit, and that you can take down / turn off Place bets at will, I'd assume you can do the same with Put bets.
What is the house edge for a put bet on the 6 or 8 with 10x odds?
Are there many casinos that allow the put bet? I know they do at Caesars but when there is a new floorman they will question me when I tell them I am increasing my flat bet on the pass to increase my odds when the shooter is making numbers. When they question what Im doing I say "its like making a put bet" and then theyll nod ok.