Glossary

The price range for the highest bid and the lowest offer during the first few minutes of the Exchange’s official open.

The process of initiating a trade to buy or sell a financial instrument.

A type of "time in force" order transaction instructing that the trade be executed as close to the open as possible and will only be accepted up to l 9:15am Eastern.

A trader’s right, without obligation, to buy or sell a financial asset at a specific, pre-determined price during a specific time period.

A listing of all options for a specific stock. 

A collection of options which have the same underlying security.

A collection of calls and puts that have the same unit of trading, expiration and strike prce on the same underlying security.

A clearing firm collectively owned by the major exchanges of the listed options.

Refers to the trade orders sent by brokers to market makers. 

A mathematical model for determining prices where a security is overbought or oversold. By identifying the extreme high and low prices, an oscillator can issue buy and sell signals when market activity nears either level.