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

In an option spread, the portion that is a long position. For example, if a spread consists of a long position on one option and a short position on a similar option, the long position is called the long leg. It should not be confused with a leg in a swap.

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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Jumping down, he watched it until the long legs stopped wiggling, when he knew it was quite dead.
Yashvin got up too, stretching his long legs and his long back.
don't wear such gentlemanly trousers-- you haven't got half such fine long legs," said Jonah to his nephew, winking at the same time, to imply that there was something more in these statements than their undeniableness.
He had very long legs, a yellow face, and a slight lisp, which at first was rather ridiculous.
There were sparrow hawks, with white breasts, and kestrels, and down the slopes scampered, with their long legs, several fine fat bustards.
In several photos, Prince Harry's fiancee flaunted her long legs in a striped mini-dress.
Along with the partnership with Yeongdeungpo-gu, the KDB has been helping underprivileged neighbors through its KDB Daddy Long Legs program.
Perfect weather for breeding this year means we can also expect an invasion of daddy long legs, or crane flies.
Best known for their long legs and the bright metallic green, blue, and yellow hues of the most conspicuous species, most are small, 5 to 10 mm long, although the family also contains "microdolichopodids" measuring approximately 1 mm.
John Ashcroft (26:25) got Liverpool off to a strong start with an ever-reliable opening stage, with the first of the six long legs in sixth position.
Patterns: Daddy Long Legs, Sedges, Black Gnat, Orange Gladiator.
Top flies at present are: Bibio, Black Buzzer, Black and Peacock Spider, Black Muddler, Hoppers, and Daddy Long Legs.