O

Odd Lot
Trading order for less than 100 shares.

Off-board
A listed stock transaction not completed on a national exchange or an OTC transaction of an unlisted transaction.

Offer
The lowest price that any person will sell a security.

Open order
An order to buy or sell a security that remains in effect until it is either cancelled by the customer or executed.

Open position
A net long or short position whose value will change with a price change.

Open-end fund
An investment company (a mutual fund) that sells new shares to the public and redeems its outstanding shares on demand.

Option
An instrument that gives the owner the right to buy or sell a specified number of shares of a specified stock at a specified price within a specified period of time. A Call option allows the buyer to purchase the underlying stock at any time up to the expiration date of the contract. A Put option allows the buyer to sell the underlying stock at any time up to the expiration date of the contract.

Over the counter (OTC)
A market for securities not listed on an exchange, as well as the principal bond market.

Overbought
An analytical term for a stock that is too expensive.

Oversold
An analytical term for a stock that is underpriced.

Securities offered through First Allied Securities, Inc.   A register broker/dealer.  Member FINRA/SIPC.
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