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Securities offered through First Allied Securities, Inc., A Registered Broker Dealer, Member FINRA/SIPC. An Advanced Equities Company.

Investment Advisory Services offered through First Allied Advisory Services, Inc.

• Odd Lot
  Trading order for less than 100 shares.
  
  
• Off-board
  A listed stock transaction not completed on a national exchange or an OTC transaction of an unlisted transaction.
  
  
• Offer
  The lowest price that any person will sell a security.
  
  
• Open order
  An order to buy or sell a security that remains in effect until it is either cancelled by the customer or executed.
  
  
• Open position
  A net long or short position whose value will change with a price change.
  
  
• Open-end fund
  An investment company (a mutual fund) that sells new shares to the public and redeems its outstanding shares on demand.
  
  
• Option
  An instrument that gives the owner the right to buy or sell a specified number of shares of a specified stock at a specified price within a specified period of time. A Call option allows the buyer to purchase the underlying stock at any time up to the expiration date of the contract. A Put option allows the buyer to sell the underlying stock at any time up to the expiration date of the contract.
  
  
• Over the counter (OTC)
  A market for securities not listed on an exchange, as well as the principal bond market.
  
  
• Overbought
  An analytical term for a stock that is too expensive.
  
  
• Oversold
  An analytical term for a stock that is underpriced.