What is the cut-off ? 
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Hi eli318,
The cut-off (or CO) is the position to the right of the Button, i.e. the player who acts just before it is the Button's turn to act. In other words, the player in the cut-off is the 4th last player to act in the preflop betting round.
You can read more about the meaning of position at the table in our basic article on Position, and also in the introductory article to the Big Stack Strategy.