fence

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Fence

A position in which an investor is long (or short) on an out-of-the-money put, long (or short) on an opposite out-of-the-money call in addition to being long (or short) on the underlying asset. Both options have the same expiration date. A fence position sets a floor and ceiling for the underlying asset and limits potential losses for the investor. It is often used by traders in farm commodities.

fence

An investment position consisting of being long (or short) a stock or commodity, being long (or short) an out-of-the-money put, and being short (or long) an out-of-the-money call. Both options have the same expiration date.
References in periodicals archive ?
Mike Jeffrey, countryside and green spaces manager at Northumberland County Council added: "We have fenced off an area of foreshore about the size of a football pitch on Druridge Bay, and the fence will be in place during the summer months when birds return to the shore to nest.
Linthorpe resident Eileen Liggitt told of her fears for the future of the site after discovering it was fenced off.
They have fenced off an area around it while investigations are carried out.
The city fire department has partly fenced off the ornate 18th-century fountain, which is 20 metres wide.
More than 25ha of trees have been fenced off as part of the project Ian Danby, of BASC said the project will produce multiple benefits for the project partners: fencing for farmers, better cover for game shooting syndicates, improved water quality for Environment Agency Wales and connected habitats for the CCW.
THE EUROPEAN Parliament yesterday adopted a common position on the fenced off area of Famagusta, calling on Turkey to return Varosha to its lawful inhabitants.
They say a fenced off area would provide more control and prevent overspill on to the adjacent footpath.
Autistic children are fenced off from friends in school playground THE parents of four autistic children yesterday hit out at a school who keep their kids apart from classmates in a wire "cage".
Another resident complained that many of the construction sites are not properly fenced off.
The traditional Henbury wall, partly fenced off for safety reasons, will be cleaned of graffiti, repointed and restored.
The entire area will remain fenced off at least until September, but after that crews may be able to reduce the fenced-off areas to allow a lane for pedestrians to cross through the construction area from Franklin Street to Front Street, said Robert C.
Ahuge field is now fenced off (nice for graffiti vandals) in preparation to store the foul smelling silt they will remove after they have drained the lake and water ways.