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leemalone2k3

12/02/08 8:34 AM

#39818 RE: Dzielak51 #39815

A vertical is a long and a short position on 2 different strikes on either calls or puts. Most brokers allow you to enter the trade as a single transaction. Legging in means entering one side of the trade then later entering the other side. I recommend always entering the long side first if you leg in, so you are not vulernable to being naked short.