Glossary
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| Time Value (Extrinsic Value) The time value measures that proportion of the option value resulting from the time remaining until the expiration date. The longer the remaining period, the higher the option value due to the time span, during which the value of the underlying could increase or decrease (possible exception: deep in the money puts). |
| Transaction Closure The termination of an open option or future position through a buy-back is termed transaction closing or closing off a position. |