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Glossary Term: CLOSE

Definition(s) for CLOSE:


1. ) The point during the sales process when the customer agrees to buy a product or service. In trading, it refers to the end of a session of trading. May also mean the last price at which a security trades during a trading session.

2. ) A reduction or an elimination of an open position by the appropriate offsetting purchase or sale. An existing long option position is closed by a selling transaction. An existing short option position is closed by a purchase transaction. This transaction will reduce the open interest for the specific option involved.


See Also:
AT THE CLOSE ORDER, BUY ON CLOSE, CLOSE A POSITION, CLOSE MARKET, CLOSE-END CREDIT, LIMIT ON CLOSE ORDER, ON THE CLOSE ORDER, WEIGHTED CLOSE, MARKET-ON-CLOSE (MOC) ORDER


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