RALLY

An upward movement of prices following a decline.

RANGE

The difference between the highest and the lowest price at which a given futures contract has traded during a particular period of time, eg. opening period of the market, closing period of the market, day, week, month, life of contract, etc.

REACTION

A decline in prices following an advance - the opposite of a rally.

REALISING

Accepting a profit either by a liquidating sale or covering a short sale.

RECOVERY

An upward movement of the price after decline.

RISK CAPITAL

Funds not needed for routine living expenses which are available for purposes of investing or speculating.

RISK FACTOR

The risk factor (delta) indicates the risk of an option position relative to that of the related futures contract.

ROUND TURN

A completed transaction involving both a purchase and a subsequent sale or a sale followed by a liquidated purchase.