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Glossary of Investment Terms

 

O

 

Official Statement

 

The municipal bond equivalent of a prospectus. It provides full details of a bond offering.

 

 

 

Open-End Investment Company

 

The legal name for a mutual fund, indication that it stands ready to redeem (or buy back) its shares from investors.

 

 

 

Open Interest

 

Total number of contracts in a commodity or options market that are still open; that is, they have not been exercised, closed out or allowed to expire.

 

 

 

Open Order

 

A buy, sell, buy to cover or sell short order that has been placed, but not executed.

 

 

 

Option Class

 

Refers to all options of the same type (call or put) on the same underlying security are considered as being of the same class.

 

 

 

Option Contract

 

A right to buy or sell stock granted in exchange for an agreed upon amount. If the right is not exercised by a specified amount of time, the option expires and the option buyer forfeits the money.

 

 

 

Option Series

 

All options of the same class, exercise price and expiration month are in the same series.

 

 

 

Option Type

 

Identification of call and put options.

 

 

 

Original Issue Corporate Bonds

 

Corporate issues being offered for the first time.

 

 

 

Original Issue Discount (OID)

 

Discount from par value at the time a bond or other debt instrument is issued.

 

 

 

Over-The-Counter (OTC)

 

Market in which securities transactions are conducted through a telephone and computer network connecting dealers in stocks and bonds, rather than on the floor of a physical exchange.

 

 

 

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