What is Long Position?

Legal Definition
With the intention of holding purchase securities in anticipation of a price increase, an investor purchases or contracts to purchase commodities, financial instruments, and shares. An investor with a long position is called a bull speculator. Instead of offsetting it with a counter-contract, if the position is held into the delivery period, this speculator will receive delivery of the actual commodity, instrument, or share. Contrast to short position. Also known as long.