Futures Trading Glossary
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Source: National Futures Association; published here with permission. This publication (Glossary of Futures Terms - An Introduction to the Language of the Futures Industry)
is the property of the National Futures Association.
Uncovered Option
A short call or put option position which is not covered by the purchase or sale of the underlying futures contract or
physical commodity. Also referred to as a Naked Option.
Underlying Futures Contract
The specific futures contract that the option conveys the right to buy (in case of a call) or sell (in the case of a put).
Source: National Futures Association; published here with permission. This publication (Glossary of Futures Terms - An Introduction to the Language of the Futures Industry)
is the property of the National Futures Association.
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