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Glossary

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  28. 0-9
Open range
Price (or price range) recorded during the opening period of the market.
Open-end fund
A mutual fund with no limit to the number of shares that can be issued.
Open-outcry
A public auction method of trading conducted by calling out bids and offers across a trading ring or pit and having them accepted.
Option
A contract conferring the right but not the obligation to buy (call) or to sell (put) a specified amount of an instrument at a specified price within a predetermined time period.
Option class
All options of the same type – calls or puts – listed on the same underlying instrument.
Option series
All options of the same class having the same exercise/strike price and expiration date.
Optionspreis
German for premium. The price a put or call buyer must pay to a put or call seller for an option contract.
Optionsscheine
German for warrant.
Order book
Compiled list of orders received that are away from the current best price in the market.
Order ticket
The document on which the details of the order are manually recorded, as soon as the order is received.