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risk management applications of option strategies so if you understand this topic well now you don't need to read this again okay in fact I would not recommending you remembering the notations in which they have presented it in the reading I would recommend you learning the logic why the notations were built in a particular fashion but if you don't understand this now then you are definitely going to struggle with some of the strategies so the first learning outcome is about having the long and short position on options so I am going back to the basic flow chart that we had built to answer the first learning outcome options we know either they could be called or put then you can take one of the two positions either long or short so long or short long or short now the parties which are long will always have right so this party will have a right this party will have a right and the party which is short will always have a obligation so in case of long call that right is to

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