Chapter 02 · Section 2.1
Long DM Options
Victor is long 3 PHLX DM Options
d) A buyer of DM options
No. Not exactly. The word "buyer" is, in fact, often used in the meaning of "owner" or "holder". However, a buyer could also be someone who had a short position and bought back some option he had previously sold.
a) This means that Victor is:
b) A seller of DM options;
c) A holder of DM options;
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