Series 27: Covered Short Positions

Taken from our Series 27 Online Guide

Covered Short Positions

Where a broker-dealer is short a call that it has an offsetting long position in the same underlying instrument for, the haircut is calculated by deducting the percentage required of the current market value of the underlying instrument for the offsetting long position reduced by the short call’s intrinsic value. Intrinsic value is the differe

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Series 27: Covered Short Positions

Taken from our Series 27 Online Guide

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