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 ?
It sounds like a childhood riddle, but the answer to the serious question "When is a fence not a fence?" is "When it's invisible."
At about 10 to 15 strides off it, I'd get the horse back on to his hocks and on the bridle in order to get him concentrating on the fence. It walked a lot smaller last year than it had in years past.
19th fence: Vodka Bleu, Bob Hall, Naunton Brook (all pulled up)
Effective pest-proof fences must be windproof and waterproof, but allow water to pass under the fence through pest-proofed culverts or stream crossings.
Last year, Erica scaled up her fence models to test how they would do outdoors in real snow.
Tools and material required: fence panels, screws, drills, posts, pliers, saw, post sockets, post caps, screwdriver, metal clips and fastenings, spirit level, spanners, socket dolly
Fence wires may be joined and put under tension and the fence then painted or preservative is applied A fence erector needs to understand and work to plans and have physical fitness, awareness of health and safety issues, organisational and time management skills, practical skills for using hand tools, an ability to work with wood and metal, basic mathematical skills and an awareness of the environment.
high privacy fence only to find that the next-door neighbors can easily see over when they're lounging on their deck.
EXAMINE fence posts for signs of rot, particularly at ground level.
Companies considering this approach need to address several factors including the risk to the facility, placement, fence type, calibration, and testing.
You'll want to include a self-closing, self-latching gate on your fence. This ensures that the gate will shut securely behind you every time.
Here, an infant's crib painted black and enclosed inside a cage; there, the sporting-goods genitals from the video hanging on a fence panel, legible simultaneously as a face, as the grisly results of a castration, and as a nod to a famous Puppy-producing New York artist.