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Stock Market Terminology
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To liquidate or close out an open futures or option contract.
One-Sided Market
A market that has only buy orders or only sell orders booked for a particular security.
Open Interest
The net open positions of a futures or option contract.
Open Order
An order that remains in the system for more than a day. See Good-Till-Cancelled or Good-Till-Date.
Open-End Investment Fund
An investment fund that continuously offers its securities to investors and stands ready to redeem its securities at all times. Transactions in shares/units of mutual funds are based on their net asset value (NAV), determined at the close of each business day. Examples of an open-end fund are traditional mutual funds and exchange-traded funds (ETFs).
Opening
The market opening time of each business day.
Option
The right, but not the obligation, to buy or sell certain securities at a specified price within a specified time. A put option gives the holder the right to sell the security, and a call option gives the holder the right to buy the security.
Option Class
All options of the same type, either calls or puts, that have the same underlying security.
Option Cycle
A set pattern of months when a class of options expires.
Option Holder
The buyer of an option contract who has the right to exercise the option during its lifetime.
Option Series
An individual option contract for a given security.
Option Type
A call or put contract.
Option Writer
The seller of an option contract who may be required to deliver (call option) or to purchase (put option) the underlying interest covered by the option, before the contract expires.
Order Number
An eight or nine-digit number assigned to every order entered into the system.
Pp
Par Value
A security’s nominal face value.
Partial Fill
An order receives a partial fill when it trades only part of its total committed volume.
Penny Stock
Low-priced speculative issues of stock selling at less than $1.00 a share.
Portfolio
Holdings of securities by an individual or institution. A portfolio may include various types of securities representing different companies and industry sectors.
Position Limit
The maximum number of futures or options contracts any individual or group of people acting together may hold at one time.
Preferred Share
A class of share capital that entitles the owner to a fixed dividend ahead of the issuer’s common shares and to a stated dollar value per share in the event of |
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