Push-Out

A push-out occurs during a stock split when new shares are forwarded to the registered holders of old share certificates, without the holders having to surrender the old shares. Both the old and new shares have equal value.

Record Date

This is the date that a stock must be in your account for you to receive a dividend. The record date has nothing to do with how we trade stock splits.

Street Certificate

These are certificates registered in the name of a securities firm rather than the owner of the security. This makes the certificate easily transferable to a new owner.

Put/Call Ratio

The ratio of put trading volume divided by the call trading volume. For example, a put/call ratio of 0.74 means that for every 100 calls bought, 74 puts were bought. It is a contrary indicator. A reading of 1.0 or more is very bullish as most people think the market is going down. When the majority thinks the market is going to move a certain direction, it usually does the opposite.

Redeemable Security

A security that carries a condition giving the issuer a right to call in and retire that security at a certain price and for a certain period of time.

Structured Products

Closed-end or open-end investment funds, which provide innovative and flexible investment products designed to respond to modern investor needs, such as yield enhancement, risk reduction, or asset diversification. Structured products allow investors to buy a single unit/share of a fund that represents an interest in the investment portfolio. Based on the investment strategy, the portfolio can purchase a basket of securities, track an index, or hold a specific type of security or portion of a security.The subcategories under the structured products include: investment funds, ETFs, capital trusts, split share corporations, and mutual fund partnerships.

Settlement Date

The date when a securities buyer must pay for a purchase or a seller must deliver the securities sold. Settlement must be made on or before the third business day following the transaction date in most cases.