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.
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 ?
I have my ambitions as a fencer, but I think my future lies as an official perhaps one day making it to the Olympic Games," she smiled.
That may sound overambitious but witnessing the enthusiasm of young fencers like Khalid al Droushi is reassuring.
At the competition, the national fencer Ruslan Hasanovgained a bronze medal, first in the history of the country's independence.
During the competition held on Sunday, in Sabre category, after hitting German fencer, Abedini defeated South Korea and Russia and advanced to semi-final stage.
Olympic fencer and AOC Executive Board member Evelyn Halls also welcomed the news.
For the SEA Games, Canlas bared that they will be looking for 12 men and 12 female fencers. Once the selection process is over, the chosen athletes will be in for a tough grind since they will be competing in various events prior to the actual SEA games.
Duncan Moyes, a wheelchair fencer and coach at Durham Phoenix said: "The main reason we have introduced wheelchair fencing is so we can reach a wider proportion of the disabled community who would like to try sport but who are unable to.
Fencer Samantha Kyle Catantan will have to go through the proverbial eye of the needle to qualify for the Youth Olympic Games in Buenos Aires, Argentina.
The Hamdan Sports Complex will be teaming up with the continent's top teenaged fencers in the coming days as Dubai plays host to the Asian Junior and Cadet Fencing Championships from Feb.
'The tournament will pull in thousands of fencers, delegates and spectators from all other African countries, including Nigeria,
She reached the final, where she met her England team-mate Laura Sheffield, who is considered one of the top fencers in Europe with a bronze medal to her name from the European Under 17 Championships this season.