Uncovered Options Trading System
Mini: Mini (e-Mini) refers to a futures contract that has a smaller contract size than an otherwise identical futures contract.
Contract: Contract is a term of reference describing a unit of trading for a commodity future or option. At the same time contract is an agreement to buy or sell a specified commodity, detailing the amount and grade of the product and the date on which the contract will mature and become deliverable.
Tick: Tick (also referred to as Minimum Price Fluctuation) is the smallest increment of price movement for a futures contract. Tick is a minimum change in price up or down. An up-tick means that the last trade was at a higher price than the one preceding it. A down-tick means that the last price was lower than the one preceding it. See Minimum Price Fluctuation.
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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.