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A position not covered by an offsetting position.

A short call option position in which the writer does not own the underlying product represented by the option contracts.

A firm, usually an investment bank, that buys an issue of securities from a company and resells it to investors.

Acting as the underwriter in the issue of new securities for a firm.

An exchange rate is normally considered to be undervalued when it is below its purchasing power parity.

The percentage of the people classified as unemployed as compared to the total labor force.

Items in the current account of the balance of payments of a country that correspond to gifts from foreigners or pension payments to foreign residents who once worked in the particular country.

A transaction executed at a price greater than the previous transaction.

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