A purchase made in order to reduce or eliminate a short options position.

A transaction in which an investor who had initially sold an option intends to liquidate his or her written position by buying, in a closing purchase transaction, an option having the same terms as the option he or she wrote.

Transaction entered into to reduce or eliminate a short position in a given series of options.

A transaction whereby an option writer buys an option identical to one previously sold, thus ending his obligations as an option writer.

A transaction in which the purchaser's intention is to reduce or eliminate a short position in a stock, or in a given series of options.

A transaction in which a speculator who had previously written an option intends to liquidate the position as a writer by buying, in a closing purchase transaction, an option having the same terms as the option previously written.

An option writer's (seller) purchase of an option that has the same features (series) of the option previously sold to affect a liquidation of the writer's position. When an option writer sells an option, it is said that the trade is a "sell to open." When closing the position, the writer places an order to "buy to close." See: Liquidation; Options; Option Series; Option Writer

When a purchaser makes a transaction with the intention to reduce or eliminate a short position in stock.