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 ?
The Hagenbecks Tierpark Zoo was the first fenceless zoo to be created; animals are separated from visitors by nature or hidden obstacles, no cages and no wires.
Development of advanced safety strategies and equipment allowing fenceless human robot assembly cells
Neither Delhi nor Dhaka is considering a fenceless border, let alone a borderless Bengal.
Designed and built in the United States, Eagle's product line includes Ripmaster fenceless ripsaw feeders and Talon cutoff saws.
The motorcyclists are the real victims of torn out fence of the nullah as they have to face dire consequences when they slip from the fenceless banks of nullah and plunge into deafening pits of nullah.
The committee almost never approved them, and the neighbourhood remains fenceless today.
Eagle also offers custom machining systems, material handling, vision scanning, controls, the Ripmaster optimizing fenceless ripsaw feeder, Talon optimizing cutoff saw, blower fans and hydraulic power units.
Ezuz, just a few hundred feet from the border, is dark and fenceless, unlike most Israeli settlements, which have towers, perimeter barriers and bright lights that broadcast a visible claim to the land.