Chapter 04 · Section 4.1

June Calls

Buy 10 xyz calls June 155 opening

Which of the following interpretations is correct?

a) The order can only be executed during the day's first trading rotation.
• b) The customer did not have a position in xyz June 155 calls before giving this order; he is thus opening a new position.
  Yes. The word "opening" is often written as a confirmation that the customer is entering a new position with this order, just we can see the word "closing" if a customer is liquidating his position in a specific option series. Continue

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