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Fancy Way to Say: Long term options Regular options contracts tend to go out only as far as nine months. For the investor which wants to make an options play on a security which goes out a year or longer she uses LEAPS.

Fancy Way to Say: Partially close a position There are several options strategies which involve the purchase or sale of multiple, different contracts. The contracts can differ in strike price, expiration date, or both. Some such strategies include: straddles, strangles, combinations, spreads. When one legs out of a position she closes one side of the multiple contract position while leaving the other open

Fancy Way to Say: The Rak man is short! More of a little joke than anything, but whenever I get short a stock I know other people are trading I always shout out "the life raft is afloat." This let's everyone know I am in and that my powers of stopping downward momentum, which I can't control, will probably manifest themselves on this stock. The worst is when some of my buddies also call out the same thing on the same stock. The more life rafts that are in, the more strength to the stock.

Fancy Way to Say: Owning stock When you own shares of a company you are said to be long the stock. If you plan on buying the stock you are looking to get long, or get long.