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Companies currently in favor by investors (price/sales greater than 10, price/earnings greater than 35 or so).

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

A set pattern of months when a class of options expires.

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.

An order with a volume that combines any number of board lots and an odd lot.

Part of the capital market established to buy and sell short-term financial obligations. These include federal government treasury bills, short-term Government of Canada bonds, commercial paper, bankers’ acceptances and guaranteed investment certificates. Longer-term securities are also traded in the money market when their term shortens to three years.

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.

The buyer of an option contract who has the right to exercise the option during its lifetime.

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

This is the price at which a security opens for the trading day. A stock can open at the previous closing price, gap up or gap down.