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

Option Chain

A listing of all options for a specific stock. 

Option Class

A collection of options which have the same underlying security.

Option Series

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

Order Flow

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.

Out of the Money

When the current price of the underlying security is below the current strike price of the option.

Outside Reversal

A daily bar chart pattern where the security’s high is higher than the previous trading day.

Over the Counter (OTC)

Securities that are traded in a medium (such as a Dealer Network) other than a formal exchange.


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