The relationship between a client and a broker/dealer firm allowing the client to place trades.

The price of an option.

A market in which there is frequent trading.

The final exercise price of the option accounts for the coupon rates carried on Ginnie Mae (Government National Mortgage Association) mortgages.

A trade made with the primary intention of maintaining certain position characteristics.  For example, making an adjustment to keep a position Delta neutral.

A promise to sell an asset before the seller has lined up purchase of the asset.

Securities trading after regular trading hours on organized exchanges.

An order that must be filled completely or not at all.

The premium an investment earns above a set standard.

A contract delivery method that permits buyers and sellers to settle delivery commitments, independently of the exchange.