offene Stillhalterposition

English translation: naked short position

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:offene Stillhalterposition
English translation:naked short position
Entered by: Beate Lutzebaeck

07:26 Mar 12, 2005
German to English translations [PRO]
Bus/Financial - Investment / Securities / Derivatives
German term or phrase: offene Stillhalterposition
From the Special Fund Rules of an investment fund (Spezial-Sondervermögen):

Ausgeschlossen sind Optionen und andere Derivate, wenn sie eine offene Stillhalterposition begründen, sowie Geschäfte, die in vergleichbarer Weise ein einer offenen Stillhalterposition entsprechendes Risiko begründen.

It's the "offen" that's giving me trouble - please only answers from colleagues with sound knowledge in this field!
Beate Lutzebaeck
New Zealand
Local time: 22:09
naked short position
Explanation:
...as opposed to a "covered" call position, for example, where the obligations from the sold call option are covered by holding the underlying assets. The difference is the risk exposure: naked short positions can be subject to unlimited risks, whereas a covered position has limited exposure. (In the case of the covered call, the risk is opportunity risk - if the market rises strongly, the seller will be missing out.)
Selected response from:

Ralf Lemster
Germany
Local time: 10:09
Grading comment
Danke dir!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3naked short position
Ralf Lemster


  

Answers


1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +3
naked short position


Explanation:
...as opposed to a "covered" call position, for example, where the obligations from the sold call option are covered by holding the underlying assets. The difference is the risk exposure: naked short positions can be subject to unlimited risks, whereas a covered position has limited exposure. (In the case of the covered call, the risk is opportunity risk - if the market rises strongly, the seller will be missing out.)

Ralf Lemster
Germany
Local time: 10:09
Specializes in field
Native speaker of: German
PRO pts in category: 475
Grading comment
Danke dir!

Peer comments on this answer (and responses from the answerer)
agree  Edith Kelly
2 hrs

agree  Ted Wozniak: genau
3 hrs

agree  Dr.G.MD (X)
15 hrs
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