Definitions for "close a position"
Closing a position refers to ending ones exposure to movements in the market...
To eliminate an investment from one's portfolio, by selling a long position or covering short position.
The elimination or netting of an open position from an account balance by making an opposite trade. If the open position is long, the contract is sold to close the position. If the open position is short, the contract is bought to close the position. (See Opening Trade.)