High: High is the highest price of the day for a particular futures or options on futures contract.
Low: Low is the lowest price of the day for a particular futures or options on futures contract.
Rally: Rally is an upward movement of prices.
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Naked options trading is very risky - many people lose money trading them. It is recommended contacting your broker or investment professional to find out about trading risk and margin requirements before getting involved into trading uncovered options.