For a Market On Close (MOC)-eligible security, the last sale price equals the calculated closing price. If the MOC closing price acceptance parameters are exceeded, it equals the last board lot sale price of the security on the exchange in the regular trading session.For any other listed security, the last sale price equals the last board lot sale price of the security on the exchange, in the regular trading session.
Archives
Write
To write an option is to sell an option. The person who sells the option is considered to be the writer.
Responsible Registered Trader
The Registered Trader assigned by the Selection Committee to act as market maker in a security. Their duties include providing a minimum guaranteed fill, maintaining minimum spread and ensuring orderly trading.
LEAP
A long-term put or call option (as long as three years).
Trading Number
The unique, 3-digit number assigned to each Participating Organization and Member to identify it for market transparency.
Retractable Security
A security that features an option for the holder to require the issuer to redeem it, subject to specified terms and conditions.
Yield
This is the measure of the return on an investment and is shown as a percentage. A stock yield is calculated by dividing the annual dividend by the stock’s current market price. For example, a stock selling at $50 and with an annual dividend of $5 per share yields 10%. A bond yield is a more complicated calculation, involving annual interest payments, plus amortizing the difference between its current market price and par value over the life of the bond.
LEAPS (Long-Term Equity Appreciation Participation Securities)
LEAPS are stock options that have expiration dates that extend beyond one year.
Trading Range
A trading range occurs when a stock or average moves up and down between a consistent high and low for an extended period of time (days, to weeks, to months). The bottom of the range becomes fairly solid support as the top becomes fairly solid resistance the more times either holds. We play stocks within the trading ranges if they are loose enough to give us some room to maneuver, e.g., a 5 point range or more. A tight trading range is one that is significantly narrower than a particular stock?s usual trading fluctuations. A tight trading range on low volume is usually a very good indicator that a move up is coming.
Return on Capital (return on invested capital)
After tax income (latest 12 months) divided by total of shareholder’s equity plus long term debt, plus other long term liabilities.