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Raw materials, work in process, and finished goods that haven’t been shipped to customers.

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.

A market that has only buy orders or only sell orders booked for a particular security.

The combined desire, ability and willingness on the part of consumers to buy goods or services. Demand is determined by income and by price, which are, in part, determined by supply.

A person employed by an investment dealer who provides investment advice to clients and executes trades on their behalf in securities and other investment products.

Latest share price divided by book value stated in latest report.

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

The government agency that administers the Securities Act (Ontario) and the Commodity Futures Act (Ontario) and regulates securities and listed futures contract transactions in Ontario.

Options and other instrument whose value depends on an underlying security. For instance, the value of a call option on Cisco Systems (derivative) fluctuates with the price of Cisco System’s stock.

An organization, usually a stock brokerage firm, involved in taking a new company public (IPO), consulting on mergers and acquisitions, handling corporate borrowing, etc.