EFTA Document EFTA01393104

higher exercise price than the exercise price of the short, or if the long has an earlier expiration date than the expiration date of the short, then the writer may still be exposed to significant risks from his uncovered writ- ing position. AT THE MONEY-This term means that the current market value of the underlying interest is the same as the exercise price of the option. IN THE MONEY-A call option is said to be in the money if the current market value of the underlying interest is ab