Open

trade. This term applies to a speculative trade or transaction that has not been closed. For instance, when a stock has been bought that is to be sold again it is an open trade or the trade is open until the stock actually is sold and: the trade or transaction is thus completed or closed. It is the same if a stock is sold short; it is an open trade until the stock is bought. The term also applies to trades in grain, cotton, coffee, etc.