fence

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Related to fence off: fence out, mend fences

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
So goes the debate as the landowners slowly fence off their property, their grass grows tall, the willows come billowing over the creek, and rainbow trout hunker in deep, cool pools.
When the school decides to fence off the land, as they undoubtedly will, how unsightly will the fence look?
"The council's litter enforcement team are in positive dialogue with Brains about them cleaning up their land and to fence off the area.
PLANS to fence off land at the Salman Industrial City in Hidd have been blocked by councillors, who say it would deprive residents of access to what remains of the sea.
Christodoulides said it was not possible to ban the public from swimming in the sea or to fence off dangerous beaches.
But they have angered local people after Sunderland City Council last week approved the application by Foxpond Fisheries to fence off the lake.
She said: "We have used school money to tarmac, grass and fence off an area for the children.
Now he has told them that if he can't use the land, no one else can and is threatening to fence off a popular playing field and let it grow wild.
John Shevchik, district manager and Barry Goldberg, preferred account representative, along with the efforts of 20 of the best fence installers in the industry, worked tirelessly throughout many long days and nights to fence off one of the worst tragedies in the history of the United States.
Telford and Wrekin Council has now decided to set up special security controls and will fence off the nest area.
He said: "We needed to fence off the site to keep its development status.