Glossary

Offer Price	The price for which a seller is willing to sell his security holding (also called Ask Price).
Offering Date	Date on which a new set of stocks or bonds will first be sold to the public.
Offset	Elimination of a long or short position by making an opposite transaction.
One-Share-One-Vote Rule	The principle that all shareholders should have equal voting rights in public companies and each shareholder should have one vote.
Open-End Mutual Fund (Variable Capital Mutual Fund)	A mutual fund where the capitalization is not fixed. The mutual fund company will continually sell or redeem its own shares to meet investor demand, as opposed to a Closed-End Mutual Fund.
Open Order	An order that has been placed with the broker, but not yet filled or cancelled.
Open Price	The price of an order sent in the pre opening phase to buy or to sell a security at the opening price (IEP).
Opening Price	The price of the first trading transaction in a trading session, executed on a specific security.
Operating Expenses	The amount paid for asset maintenance or the cost of doing business, excluding depreciation.
Option	The right to buy or sell a security at a particular ask or bid price.
Optional Dividend	A dividend that the shareholder can elect to receive either in cash or in stock.
Order	A request to buy or sell a security at a particular ask or bid price.
Ordinary Order	An order to buy or sell a specific security, which the broker can offer or demand through the trading system.
Outstanding Dividends	Dividend checks which have been mailed to shareholders of record but not yet cashed. Funds are held until the check is paid or reissued.
Overnight Position	A broker-dealer's position in a security at the end of a trading day.
Oversubscribed Issue	Investors are not able to buy all the shares or bonds they want, so underwriters must allocate the shares or bonds among investors. This occurs when a new issue is underpriced or in great demand because of growth prospects.
Oversubscription	The excess number of shares or bonds that investors want to buy but are not available due to high demand.
Over-the-Counter Market	The market where securities are bought and sold directly between the purchaser and seller.
Owners' Equity	See Stockholders' Equity.