A position in which negative deltas offset positive deltas. The overall delta of the position is zero or very close…
It stands for against the box; a short sale which is carried out by the holder of a long position…
A short sale which is carried out by the holder of a long position in the same stock being sold. The…
An options strategy that involves buying a call (long call) and a put (long put) with the same exercise price…
Previously known as bookout, it refers to the closing out of a swap transaction, whereby the net debtor’s pays the…
An option strategy that combines a bull spread and a bear spread, each with a different exercise price. This strategy…
Re-establishing an original position taken by an option buyer, undoing whereby a previously made conversion or reversal of an option…
In the context of portfolio or program trading, it refers to the process of balancing buys (long positions) and sells…
A floater that involves a short position in a strip of caps over the life of collateralized motgage obligation (CMO)…
The right of the holders of a given local currency to dispose of their currency holdings in exchange for goods…