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Record 1,  Textual support,  English

Record number: 1, Textual support number: 1 CONT

A short put position is only defined as covered when the client holds, in the same account, a long put on the same underlying security with an exercise price equal to or greater than that of the short put and where the long put has a maturity date equal to or longer than the short put. Thus, if a client had written or sold one XYZ July 50 put, he would be covered and not be required to put up margin if he also held in the same account an XYZ July 50 put or an XYZ October 55 put. This assumes that the long put position has been paid for in full.  4, record 1, English, - short%20put

Record 1,  Textual support,  French

Record number: 1, Textual support number: 1 DEF

Opération consistant à prendre la position de vendeur d'une option de vente, généralement parce que l'on prévoit une hausse ou une stabilité relative des cours du sous-jacent.  1, record 1, French, - vente%20d%26rsquo%3Bune%20option%20de%20vente

Record number: 1, Textual support number: 1 OBS

En position vendeur, ou position courte, l'intervenant s'engage à prendre livraison du sous-jacent sur demande de l'acheteur au prix fixé d'avance pour l'exercice de l'option. En contrepartie de cet engagement, il reçoit une prime payée d'avance par l'acheteur pour le risque assumé.  1, record 1, French, - vente%20d%26rsquo%3Bune%20option%20de%20vente

Record 1,  Textual support,  Spanish

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 CONT

A gold put writer has the obligation to buy gold for a predetermined price. He sells the right to sell gold at a fixed price to a gold put buyer and receives a premium in return. The put writer must keep in mind that he can be assigned to take delivery of gold, should a put holder decide to exercise, at any time up to the expiry date.  3, record 2, English, - gold%20put%20writer

Record 2,  Textual support,  French

Record 2,  Textual support,  Spanish

Record 3,  Textual support,  English

Record number: 3, Textual support number: 1 DEF

A writer of a put who, so long as he remains obligated as a writer, holds on a share-for-share basis, a put of the same class as the put written where the exercise price of the put held is equal to or greater than the exercise price of the put written.  3, record 3, English, - covered%20put%20writer

Record 3,  Textual support,  French

Record number: 3, Textual support number: 1 DEF

Vendeur d'une option de vente qui, tant qu'il demeure engagé en tant que vendeur, détient, action pour action, une option de même catégorie que l'option vendue où le prix de levée de l'option de vente détenue est égal ou supérieur au prix de levée de l'option de vente vendue.  2, record 3, French, - vendeur%20d%26rsquo%3Boptions%20de%20vente%20couvertes

Record 3,  Textual support,  Spanish

Record 4,  Textual support,  English

Record number: 4, Textual support number: 1 CONT

Note, however, that an option seller's risks are potentially large since a call seller may be obliged to sell the underlying currency at a price well below the market (spot) price while a put option writer could be forced to buy the underlying currency at a price significantly above the going market price.  3, record 4, English, - put%20option%20writer

Record 4,  Textual support,  French

Record number: 4, Textual support number: 1 CONT

Il y a lieu de noter que les risques du vendeur d'option sont élevés puisque le vendeur de l'option d'achat peut se voir obligé de vendre la devise sous option à un cours bien inférieur à celui du marché des changes, et que le vendeur de l'option de vente risque de devoir acheter la devise sous option à un cours excédant de beaucoup celui du marché des changes.  2, record 4, French, - vendeur%20d%26rsquo%3Boptions%20de%20vente

Record 4,  Textual support,  Spanish