Long

(1) One who has bought a futures contractAn agreement to purchase or sell a commodity for delivery in the future: (1) at a price that is determined to establish a market positionAn interest in the market, either long or short, in the form of one or more open contracts.; (2) a market position that obligates the holderThe party that currently owns the loan and holds its legal title. to take deliveryThe tender and receipt of the actual commodity, the cash value of the commodity, or of a delivery instrument; (3) one who owns an inventoryMerchandise that is purchased and/or produced and stored for eventual sale. of commodities. See Short(1) The selling side of an open futures contract; (2) a trader whose net position in the futures market.