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long leg
(redirected from long legs)

    Also found in: Dictionary/thesaurus 0.02 sec.
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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