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See Market Capitalization.

The shares or stock sold by a company to provide start-up capital before carrying out an initial public offering (IPO).

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.

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.

This is an abbreviation of a stock’s price-to-earnings ratio. The price-to-earnings ratio is a stock’s share price divided by earnings per share for the company’s most recent four quarters. A projected P/E divides the share price by estimated earnings per share for the coming four quarters.

An analyst employed by a brokerage house such as Merrill Lynch.

A brisk rise in the general price level of the market or price of a stock.

A security’s nominal face value.

A security that features an option for the holder to require the issuer to redeem it, subject to specified terms and conditions.

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.