You can close a long position by selling the number of contracts that you are long.
- Sell the number of contracts that you are long
- You do not need to post collateral for a short position when selling to close
Steps to close your long position:
- Click on Positions in the main dashboard (to the right of Open Orders) > click the position you want to close
- Click Sell to Close to launch the order form
- Enter the price you want to receive. The Contracts field is populated with the number of contracts you are long.
- Review your sell order. You will see the Premium, or the amount you will receive for selling this option. (Typically you post close to the current Ask Price)
- Confirm your order
- When your trade executes, your position will be 0 > view in Open Orders until filled
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