In either case, the trader is said to have retendered the notice. A reversal within a major price trend. A change of direction in prices. With regard to options, a position created by buying a call option, selling a put option, and selling the underlying futures contract. A circular area on the trading floor of an exchange where traders and brokers stand while executing futures trades.
Some exchanges use pits rather than rings.
See Delta Value. The relationship between the probability of loss and profit. This ratio is often used as a basis for trade selection or comparison. A trading procedure involving the shift of one month of a straddle into another future month while holding the other contract month. The shift can take place in either the long or short straddle month.