Trading

Buy to Close (BTC)

By Ryan Silk & Lawrence Polatchek · Reviewed April 2026 · Options Trading Glossary

Buy back a short option to close

What is Buy to Close (BTC)?

Buy to Close (BTC) Closing an existing short option position by buying it back. Used to exit sold options before expiration, take profits, or cut losses.

Complete Definition

Closing an existing short option position by buying it back. Used to exit sold options before expiration, take profits, or cut losses.

Related Terms

Sell To Open Buy To Open Sell To Close

Written by

ApexVol Research Team

Quantitative options research

All calculations use live ORATS institutional data — the same source used by professional volatility desks.

Technical reviewer

Ryan Silk, ApexVol Founder

Reviewed for technical accuracy

10+ years trading options. Built ApexVol's pricing engine, Greeks model, and IV-rank methodology.

This guide is updated as market conditions and ORATS data change. Last revised 2026-05-12. How we research →

Want to Learn More?

Explore our educational resources and analytics tools to deepen your understanding.

Learning Center

Butterfly Spread All Terms Buy to Open (BTO)

Learn Options Trading

Understanding Options Greeks Implied Volatility Guide How to Trade Options 0DTE Options Trading Options Glossary Strategy Guides Learning Center

Explore More Tools

Options Chain Real-time Greeks Greeks Heatmap Visual analysis Volatility Lab IV analysis Strategy Simulator Test strategies IV Intelligence 3D visualization Options Screener Find opportunities Historical Data Past snapshots Earnings Historical moves & IV 0DTE Analytics Same-day expiration