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Futures Trading Terms
A B C D E F G H I L M N O P Q R S T U V W Y
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1. Uncovered Option A short call or put option position which is not covered by the purchase or sale of the underlying futures contract or physical commodity. Also referred to as a Naked Option. More…
2. Underlying Futures Contract The specific futures contract that the option conveys the right to buy (in case of a call) or sell (in the case of a put). =National Futures Association

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