The value of the position subtracting out the initial cost of setting up the position. For example, if 100 options where purchased for $1 each and the option is currently trading for $9 then the value of the net position is $900 - $100 = $800.
NET POSITION
Meaning of NET POSITION in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012