In finance, a long position in a security, such as a stock or a bond, or equivalently to be long in a security, means the holder of the position owns the security and will profit if the price of the security goes up. Going long is the more conventional practice of investing and is contrasted with going short.
Similarly, a long position in a futures contract or similar derivative means that the holder of the position will profit if the price of the futures contract or derivative goes up. Note that it is important to consider the value of the option, not the value of the underlying instrument, as the value of a put option will increase when the value of the underlying instrument decreases.
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