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Odd Lot
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Stock purchased in units of less than 100 shares. |
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Odd Lot short sales
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The amount of stock sold short in odd lots. |
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Offer
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The price they want to sell, i.e. 40 offered at 20 means they want to sell 40 contracts at a price of 20. Also called "ask". Indicates a willingness to sell a futures contract at a given price. (See bid.) |
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Offset
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The liquidation of a purchase of futures through the sale of an equal number of contracts of the same delivery months or the covering of a short sale of futures contracts through the purchase of an equal number of contracts of the same delivery month. Either action transfers the obligation to make or take delivery of the actual commodity to someone else. |
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On-balance Volume (OBV)
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A technical indicator that manipulates volume figures. If the stock price falls to a new low and the OBV does not, the indicator is interpreted as being a positive sign; if the stock price rises to a new high and the OBV does not, the indicator is interpreted as being negative. |
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Open
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The period at the beginning of the trading session officially designated by the exchange during which all transactions are considered made "at the open." |
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Open Interest
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The total number of futures contracts of a given commodity which have not yet been offset by opposite futures transactions nor fulfilled by delivery of the actual commodity; the total number of open transactions where each transaction has a buyer and a seller. |
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Open Order
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An order to a broker that is good until it is canceled or executed. |
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Open Outcry
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Method of public auction for making bids and offers in the trading pits or rings of commodity exchanges. |
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Opening (The)
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The period at the beginning of the trading session during which all transactions are considered made or first transactions were completed. |
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Opening Range/Opening Price
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The range of closely related prices at which transactions took place at the opening of the market; buying and selling orders at the opening which might be filled at any point within such a range. |
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Open Trade Equity
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The unrealized gain or loss on open positions. |
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Optimization
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A test performed on historical data to determine what would have resulted in the maximum profit during a given period of time. |
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Option
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The right to buy or sell specific securities at a specified price within a specified time. A call option gives the holder the right to buy; a put option gives the holder the right to sell. |
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Order Execution
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The handling of a customer order by a broker, including receiving the order verbally or in writing from the customer, transmitting it to the trading floor of the exchange where the transaction takes place, ad returning confirmation (fill price) of the completed order to the customer. |
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Outside Day
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a trading day in which the current day's high and low are outside the previous day's price range. Directions of closing prices are considered very important. |
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Out-Trades
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A situation that results when there is some confusion or error on a trade. A difference in pricing, with both traders thinking they were buying, for example, is a reason why an out-trade may occur. |
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Overbought
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The point (after a period of vigorous buying) at which upward momentum in prices can no longer be maintained and prices can be expected to stabilize or decline. |
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Oversold
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The opposite of overbought. It is a point at which downward momentum in prices can no longer be maintained and prices can be expected to remain stable or rise. |
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There
is a substantial risk of loss in futures trading.