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long leg

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Long leg
The part of an option spread in which an agreement to buy the underlying security is made.
long leg
The side of an option spread (that is, one option bought long and one option sold short) that an investor is long. With a spread that involves owning a June 20 put and being short a March 20 put, the June 20 put represents the long leg. Compare short leg.


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And with such long leg feathers, the animals probably would have tripped all over themselves while walking.
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In response to a new predator, lizards on several Caribbean islands underwent selection first for long legs and then for short legs.
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But I was determined to walk and I went home in long leg braces.
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