What is an Uncovered Option?

It is to buy and sell an option at the same time, the purpose is to offset the cost of buying the option from the proceeds of the sold option, so as to obtain the upper and lower limits of the exchange rate fluctuation without paying the cost.

No Fee Option

Right!
It is to buy and sell an option at the same time, the purpose is to offset the cost of buying the option from the proceeds of the sold option, so as to obtain the upper and lower limits of the exchange rate fluctuation without paying the cost.
No Fee Option (ZEROCOSTCYLINDEROPTION)
For example: A customer with a Mark deposit due one month later may buy a Sell Mark option from Schroder Bank at a price of 1,4200 due to concerns that the exchange rate of USD against the Mark will increase. At the same time, a "Buy Mark" option was sold to Schroder Bank at a price of 1,3800 and the pricing of these two options will offset each other, so the customer does not need to pay any fees, but obtaining a Guarantee of redemption between 1,3800-1,4200.

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