Outright Futures Position

Outright Futures Position

An unhedged position on a futures contract. That is, an outright futures position is a long or short position on a futures contract that is not offset by another contract that reduces the risk. One gains on an outright futures position when the price of the contract or the underlying asset increases (for a long position) or decreases (for a short).
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Trading strategies for a possible move to the recent historic Highs and Lows can include outright futures positions but also Long Strangles in options on futures.