Any option position having both long options and short options of the same type on the same underlying security.
See Also:
Spread: A trade in which two related contracts/stocks/bonds/options are traded to exploit the relative difference in price change between the two. A trading strategy in which a trader offsets the purchase of one trading unit against another.
Strategy: With respect to option investments, a preconceived, logical plan of position selection and follow-up action.
