TeachMeFinance.com - explain Closed out
Closed out -- Finally disposed of. For instance, when the
last of a lot of stock that has been carried (or held) is sold it
has been closed out.
Also, when the account of a speculator has been liquidated
without his consent because of failure on his part to provide
additional margin he has been closed out, or more correctly
speaking, his account has been closed out.
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