open position



  • An obligation to take or make delivery of an asset or currency in the future without cover, that is, without a matching obligation in the other direction that protects from effects of change in the price of the asset or currency. Aside from simple ownership and debt, an open position can be acquired or avoided using the forward market.


  • A condition of ownership or an obligation to deliver a currency, stock, commodity or other financial asset or contract. An open position can be either after the purchase of a currency pair or other asset, called going long, or after the sale of an asset before buying it back, which is called going short.