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A block of stock consisting of less than 100 shares. When odd lots trade, a premium is usually tacked on by the specialist or market maker. These receive the least favorable price and trade last.

The debts and obligations of a company or an individual. Current liabilities are debts due and payable within one year. Long-term liabilities are those payable after one year. Liabilities are found on a company’s balance sheet or an individual’s net worth statement.

LEAPS are stock options that have expiration dates that extend beyond one year.

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

Usually involves looking for stocks in a strong uptrend (high relative strength), strong earnings growth, and increasing earnings forecasts. In today’s market, may include relative strength only.

A special-term order placed with the intention of trading at a later date when the price of the stock reaches the specified stop price. An on-stop order becomes a limit order once a trade at the trigger price has occurred.

An order to buy or sell stock at a specified price. The order can be executed only at the specified price or better. A limit order sets the maximum price the client is willing to pay as a buyer, and the minimum price they are willing to accept as a seller.

Take over of a public corporation using borrowed funds. 

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

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