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A security’s nominal face value.

An order receives a partial fill when it trades only part of its total committed volume.

With respect to stocks split or dividends, a pay date is the date that a company pays a dividend or stock split out, which is usually the day before the ex-dividend date.

A payment made by a market maker to a broker as a thank you for directing your stock trade to that market maker.

Percentage of earnings paid out in dividends.

Price to earnings ratio divided by the forecast annual earnings growth rate. Traditionally, stocks were said to be fairly valued when the p/e and the forecast growth rate were equal.

We use this with respect to options trades in determining if we like an option enough to buy it or if we are in an option, if we want to stay in it. This calculation tells you how far the underlying stock must move before the option will double in value. We prefer a 7%-10% value, less if we can get it. This does not mean we will not buy an option, but it does give us insight as to how long we will hold it. Percent to double is a Smith Barney proprietary calculation.

Holdings of securities by an individual or institution. A portfolio may include various types of securities representing different companies and industry sectors.

The number of shares that will be outstanding after an IPO.

An investment fund that continuously offers its securities to investors and stands ready to redeem its securities at all times. Transactions in shares/units of mutual funds are based on their net asset value (NAV), determined at the close of each business day. Examples of an open-end fund are traditional mutual funds and exchange-traded funds (ETFs).