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Glossary

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  28. 0-9
Odd lot
A block of securities bid or offered which is smaller than the standard lot size for that particular security.
Offer for sale
A method of bringing a company to the market. The public can apply for shares directly at a fixed price. A prospectus containing details of the sale must be printed in a national newspaper.
Offer price
The price at which a seller is willing to sell. The best offer is the lowest such price available.
Official list
The list of securities which have obtained a formal listing on the main market of an exchange.
Offset
The closing-out or liquidation of a futures position.
Open interest
The total number of outstanding option or futures contracts that have not been closed out by offset or fulfilled by delivery.
Open order
An order to buy or sell a security which remains in place until it is either executed or cancelled.
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.