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

An option whose underlying security is an index. An example would be the S&P 100 (OEX). A trader can buy index options and bet on the direction of the OEX.

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.

An eight or nine-digit number assigned to every order entered into the system.

A seller of an option contract who does not own a position in the underlying security.

Operating income divided by sales.

See Exchange-Traded Fund (ETF).

OTC (over-the-counter) foreign trading refers to UMIR Rule 6.4 (e), which permits a trade to be executed off the Exchange, if one or both Participating Organization/Member client accounts are outside of Canada, provided such trades are reported within a specific time frame to the Exchange for public dissemination of the transaction.

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.

The difference between the previous day’s closing price and the last traded price.