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The number of debt instruments traded on one side of the transaction for a specified period multiplied by the face value of the debt instrument.

The buyer of an option contract who has the right to exercise the option during its lifetime.

An order that is valid only for the day it is entered. If the order is still outstanding when the market closes, it will be purged overnight.

The market opens at 9:30 a.m. ET each business day.

A measure of accounts receivables compared to sales. Higher DSOs means a company’s receivables as a percentage of sales have increased, not a good sign.

Surplus cash generated from company’s basic operations without regard to income tax entries such as depreciation and amortization. Changes in levels of inventories, accounts receivable and accounts payable also affect cash flow. Also see Free Cash Flow. 

A long-term debt instrument issued by corporations or governments that is backed only by the integrity of the borrower, not by collateral. A debenture is unsecured and subordinate to secured debt. A debenture is unsecured in that there are no liens or pledges on specific assets.

Not the same as operating income. See pro forma earnings. 

The price paid per $100 of a debt instrument’s face value traded. A debt instrument trading at par would have a price of $100. A price below face value (for example, $99.1) indicates that the debt instrument has traded at a discount. A price above face value (for example, $101.1) indicates that the debt instrument has traded at a premium.

Sales minus all expenses except income taxes and other items not related to basic business.