Dari harga strike yang disesuaikan untuk menghasilkan hingga jatuh tempo dan segala sesuatu di antaranya, daftar istilah dan definisi investasi komprehensif kami sangat bagus sebagai primer tentang istilah industri atau hanya alat referensi cepat. A b c d e f g h i k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k k em 12b-1 Fee Biaya reksa dana seperti periklanan, hubungan masyarakat dan biaya distribusi yang dibayarkan oleh pemegang saham. 401 (k), 403 (b), dan 457 Rencana pensiun yang disponsori majikan yang diberi nama berdasarkan bagian Internal Revenue Code masing-masing di mana mereka muncul. A Abandon Tindakan pemegang opsi untuk memilih untuk tidak menggunakan atau mengimbangi opsi. ACAT Untuk transfer sekuritas dari akun perdagangan non-ekuitas ke akun perdagangan ekuitas Anda dengan broker Anda. Nilai Akun Nilai likuidasi pasar yang ditandai ke pasar Anda yang mencakup kredit dari dana tunai atau pasar uang, dikurangi kewajiban termasuk posisi pendek dan saldo debet. Aktuaria Komoditas fisik atau uang tunai, yang dibedakan dari kontrak berjangka komoditas. Tambahkan orang ke akun Anda Karena upaya pemerintah Amerika Serikat untuk memerangi terorisme dan penipuan, broker AS diharuskan untuk memperoleh, memverifikasi, dan mencatat informasi tentang orang-orang yang membuka rekening, yang merupakan penandatangan akun (dalam kasus Entity Accounts) atau Orang yang berwenang melakukan perdagangan (LTA) atas nama rekening, di antara orang lain yang terkait dengan rekening perantara. Adjusted Strike Price Perubahan harga strike kontrak opsi yang dihasilkan dari perubahan yang sesuai pada underlying. Dalam kasus opsi saham, bila saham melakukan split 2-untuk-1, harga opsi pemogokan akan berubah untuk mencerminkan harga saham yang direvisi. Harga strike yang dihasilkan, dalam hal ini, tidak akan jatuh dalam standar 5 kenaikan. Misalnya, jika Anda memiliki 100 saham dengan 100 saham dan melakukan split 2-untuk-1, Anda kemudian akan memiliki 200 saham dari saham yang sama sekarang senilai 50 per saham. Demikian juga, jika Anda memiliki satu telepon sebelum stock split, Anda akan memiliki dua 22 12 panggilan setelahnya. Dalam kedua kasus tersebut, nilai posisi tetap tidak berubah. Agregasi Kebijakan dimana semua posisi futures dimiliki atau dikendalikan oleh satu trader atau sekelompok trader digabungkan untuk menentukan posisi yang dilaporkan dan batasan spekulatif. Semua Bisa Istilah yang digunakan untuk merujuk pada perintah yang hanya sebagian dieksekusi. Seringkali, istilah ini berlaku untuk limit order yang tidak dapat dipenuhi sepenuhnya karena kurangnya pihak lain dalam trading pit yang bersedia membeli atau menjual dengan harga tersebut. All-or-None Order (AON) Perintah All-or-None memungkinkan trader untuk membeli atau menjual sejumlah kontrak tertentu dengan harga tunggal. Jumlah kontrak harus memenuhi atau melampaui tingkat ambang batas yang telah ditentukan, dan perintah ini harus dilakukan selama sesi perdagangan pit. Semua or None order diarahkan ke bursa utama dimana mereka secara manual dipegang dan dieksekusi saat memenuhi syarat. Selanjutnya, pesanan ini tidak tercermin dalam tawaran tanya penawaran. Umumnya, AON tidak direkomendasikan atas perintah kurang dari 20 kontrak karena eksekusi pesanan mungkin akan terpengaruh. American Stock Exchange (atau Amex atau AMEX) Didirikan pada tahun 1842 di New York City, American Stock Exchange adalah satu dari tiga bursa saham utama di A. S. bersama dengan New York Stock Exchange dan Nasdaq. Ini juga memperdagangkan berbagai opsi ekuitas dan indeks. American Style Option Sebuah kontrak yang bisa dieksekusi kapanpun sebelum kadaluarsa. Sebagian besar opsi ekuitas termasuk dalam kategori ini. Tingkat Persentase Tahunan (APR) Biaya pinjaman termasuk bunga, biaya dan biaya lainnya. Dinyatakan sebagai tingkat bunga tahunan. Persentase Tahunan Persentase (APY) Tingkat pengembalian tahunan atas investasi yang memperhitungkan peracunan akun. Arbitrase Teknik yang digunakan hampir secara eksklusif oleh pedagang lantai dan profesional lainnya untuk memanfaatkan perbedaan harga yang kecil. Ask or Ask Price Harga terendah yang ditunjukkan saat ini dimana penjual bersedia menjual saham atau kontrak opsi tertentu. Harga yang diminta juga dikenal sebagai penawaran. Tanyakan Ukuran Jumlah kontrak berjangka atau opsi yang ditawarkan dengan harga tertentu. Penugasan Proses melalui mana penjual opsi diberi tahu oleh Option Clearing Corporation (OCC) bahwa orang yang membeli kontrak opsi memutuskan untuk menggunakan hak untuk membeli atau menjual saham dengan harga strike. Setelah pemberitahuan, penjual opsi wajib mengirimkan atau menerima saham sesuai dengan persyaratan kontrak. Karena tidak semua kontrak dijalankan, OCC memproses penugasan secara acak. Associated Person (AP) Seseorang yang meminta pesanan, pelanggan atau dana nasabah atas nama Merchant Komisi Berjangka, Pialang Introducing, Penasihat Perdagangan Komoditi atau Operator Kolam Komoditi dan terdaftar dengan Komisi Perdagangan Berjangka Komoditi. Sementara banyak pilihan perwakilan layanan pelanggan Xpress berlisensi AP, mereka tidak pernah meminta perintah, memberikan rekomendasi perdagangan, mengomentari strategi perdagangan tertentu, atau memberi saran pajak, hukum, atau nasehat. At-the-market Setiap perdagangan dieksekusi pada tawaran atau penawaran yang berlaku. Misalnya, jika bid-ask spread pada opsi adalah 5.30 - 5.50, pelanggan yang menempatkan market order untuk menjual opsi akan menerima tawaran saat ini sebesar 5.30. Demikian juga, pelanggan yang ingin membeli opsi akan membayar 5,50. On-the-money Pilihan disebut uang saat harga strike sama dengan harga pasar saat ini dari saham atau instrumen yang mendasarinya. Misalnya, 75 call dan 75 put akan menjadi at-the-money dengan perdagangan saham di 75. Auto-Liquidation Ketika sebuah pilihan, pelangganXX memungkinkan akunnya melikuidasi nilai untuk mencapai tingkat kritis yang rendah sehingga optionsXpress sangat menakutkan akun. Akan menjadi saldo debet tanpa jaminan, beberapa atau semua posisi dapat diimbangi tanpa pemberitahuan. Proses ini disebut sebagai auto-likuidasi, karena sistem optionsXpress secara otomatis menghasilkan perintah mengimbangi bila menemukan akun yang berbahaya dan tidak diperhitungkan. Automated Clearing House (ACH) Kumpulan 32 jaringan interbank elektronik regional yang digunakan untuk memproses transaksi secara elektronik. Latihan otomatis Juga dikenal sebagai Latihan oleh Pengecualian. Prosedur yang diterapkan oleh Options Clearing Corporation (OCC) untuk melindungi pelanggan dari kehilangan nilai intrinsik dari opsi yang mereka lupakan untuk berolahraga. OCC secara otomatis menjalankan semua opsi saham yang memiliki sekurang-kurangnya 0,01 nilai intrinsik atau opsi indeks dengan nilai intrinsik. Beban Back-end A Beban penjualan dibayarkan saat saham reksa dana dijual. Juga bisa disebut biaya penjualan ditangguhkan. Bulan Kembali Bulan pengiriman berjangka dengan tanggal kadaluarsa atau pengiriman ke masa depan dengan kata lain, bulan pengiriman berjangka selain bulan pengiriman di tempat, atau di dekatnya. Backspread Strategi spread dimana posisi net memiliki pilihan yang lebih panjang daripada short. Untuk membuat backspread panggilan Anda bisa menjual satu panggilan pemogokan yang lebih rendah dan membeli dua panggilan pemogokan yang lebih tinggi. Posisi ini menawarkan risiko terbatas dan potensi keuntungan tak terbatas. Perlu dicatat juga backspreads sering diawali sebagai delta posisi netral. Backwardation Sebuah pasar berjangka dimana hubungan antara dua bulan pengiriman komoditi yang sama tidak normal. Kebalikan dari Contango. Lihat juga Pasar terbalik. Base Currency Secara umum, mata uang dasar adalah mata uang dimana investor atau penerbit mengelola bukunya. Di pasar FX, Dolar A. S. biasanya dianggap sebagai mata uang quotbasequot untuk penawaran, yang berarti bahwa kutipan dinyatakan sebagai unit sebesar 1 USD per mata uang lain yang dikutip pada pasangan (misal USDJPY). Pengecualian utama peraturan ini adalah British Pound, Euro, dan Australian Dollar (ex EURUSD). Perbedaan Basis Point di atas atau di bawah masa depan yang ditentukan dimana komoditas tunai dari suatu deskripsi tertentu dijual atau dikutip. Titik Dasar Mengacu pada hasil pada obligasi. Ini adalah seperseratus dari persentase poin (0,01). Contoh: Jika harga berubah 25 basis poin berarti tingkat telah berubah sebesar 0,25. Bear Spread Sebuah posisi yang terdiri dari beberapa pilihan yang mendapat keuntungan dari penurunan harga saham. Posisi mungkin termasuk saham serta pilihan. Bear Call Spread Strategi ini melibatkan penjualan call dengan strike yang lebih rendah dan membeli call dengan strike yang lebih tinggi. Keuntungan maksimal tercapai bila perdagangan saham pada atau di bawah strike yang lebih rendah. Bear Put Spread Strategi ini melibatkan membeli put dengan harga strike yang lebih tinggi dan menjual put dengan harga strike yang lebih rendah. Dalam hal ini, keuntungan maksimal tercapai pada atau di bawah harga strike yang lebih rendah. Bearish Istilah yang digunakan untuk menggambarkan sentimen pasar orang yang mengharapkan penurunan pasar secara umum. Best Ask or Best Offer Penawaran terendah dari semua pembuat pasar yang bersaing untuk menjual keamanan tertentu pada waktu tertentu. Tawaran Terbaik Tawaran dikutip tertinggi dari semua pembuat pasar yang bersaing untuk membeli keamanan tertentu pada waktu tertentu. Bid Titik harga dimana pembeli bersedia membeli kontrak saham atau opsi tertentu. Bid Size Jumlah kontrak berjangka atau opsi penawaran pada harga tertentu. Model Black-Scholes Rumus matematika memberikan nilai teoritis untuk opsi mengingat berbagai faktor yang mempengaruhi harga opsi (yaitu harga strike, harga underlying, tingkat bunga saat ini, jumlah waktu yang tersisa sampai kadaluarsa, dividen, dan volatilitas ). Bond Suatu keamanan yang mewakili hutang korporasi, kotamadya atau entitas lainnya. Nilai Buku per Saham Nilai buku perusahaan dibagi dengan jumlah saham yang beredar. BOX The Boston Options Exchange. Break Sebuah penurunan harga yang cepat dan tajam. Break-even Harga saham (atau harga) di mana posisi opsi tidak akan menghasilkan atau kehilangan uang. Breakpoints Mengurangi beban penjualan pada reksadana untuk investasi lebih besar. Semakin besar investasinya, semakin rendah biaya yang akan dikeluarkan. Breakpoints didirikan oleh perusahaan reksadana. Broker Call Rate Broker call rate adalah suku bunga yang dibebankan broker kepada broker untuk menutupi posisi sekuritas dari brokerages pelanggan. Sebagian besar broker akan menagih Anda sedikit di atas jumlah ini saat Anda meminjam dengan margin. Biasanya tarifnya kira-kira satu persen lebih tinggi dari Federal Funds Rate. Batas yang disangga Harga batas yang diinginkan akan diterapkan sebagai offset pada kutipan yang dipicu, pada saat pesanan dikirim ke bursa. Bull Spread Sebuah posisi yang terdiri dari beberapa pilihan yang mendapat keuntungan dari kenaikan harga saham. Posisi mungkin termasuk saham serta pilihan. Bull Call Spread Strategi ini melibatkan membeli telepon dengan strike yang lebih rendah dan melakukan panggilan dengan strike yang lebih tinggi. Keuntungan maksimal tercapai bila perdagangan saham pada atau di atas strike yang lebih tinggi. Bull Put Spread Strategi ini melibatkan penjualan put dengan strike yang lebih tinggi dan membeli put dengan strike yang lebih rendah. Sekali lagi, keuntungan maksimal tercapai pada atau di atas harga strike yang lebih tinggi. Bullish Istilah yang digunakan untuk menggambarkan sentimen pasar orang yang mengharapkan pasar umum meningkat. Butterfly Spread Risiko terbatas, strategi penghargaan terbatas yang melibatkan 4 opsi (semua panggilan atau semua opsi) pada 3 harga strike yang berbeda. Misalnya, untuk membeli kupu-kupu, Anda bisa membeli satu panggilan pada pemogokan yang lebih rendah, menjual dua panggilan di tengah pemogokan, dan membeli satu panggilan pada pemogokan yang lebih tinggi. Dalam kasus ini, pemogokan tertinggi dan terendah adalah quotwingsquot sementara pemogokan tengah membentuk kuotot kupu-kupu. Buy To Close Perintah masuk untuk menutup posisi short. Umumnya digunakan dalam investasi futuresoptions untuk membedakan antara penetapan vs penutupan suatu posisi. Buy To Open Perintah masuk untuk membuat posisi lama yang baru. Umumnya digunakan dalam investasi futuresoptions untuk membedakan antara penetapan vs penutupan suatu posisi. Buy-write lihat Covered Call. Membeli Hedge Sebuah lindung nilai yang diprakarsai dengan mengambil posisi long di pasar berjangka sama dengan jumlah komoditas tunai yang pada akhirnya dibutuhkan. C CBOE Chicago Board Options Exchange. Calendar Spread Juga dikenal sebagai spread waktu atau horizontal. Penyebaran ini terdiri dari opsi beli dan jual dengan expirations yang berbeda namun harga strike yang sama. Call Option Dalam hal opsi ekuitas, sebuah kontrak yang memberi pembeli hak, tapi bukan kewajiban, untuk membeli sejumlah saham tertentu (biasanya 100 saham) dengan harga yang telah ditentukan kapan saja sebelum kontrak berakhir (opsi American Style) Atau pada saat kedaluwarsa saja (European Style Option). Harga yang telah ditentukan dikenal sebagai strike price. Carrying Broker Seorang anggota bursa berjangka, biasanya anggota kliring, dimana perusahaan lain, broker atau pelanggan memilih untuk menghapus semua atau beberapa perdagangan. RJ OBrien berfungsi sebagai optionsXpress carry broker. Biaya Operasional Biaya penyimpanan barang fisik, seperti biji-bijian atau logam, selama periode waktu tertentu. Biaya tercatat meliputi asuransi, penyimpanan dan bunga atas dana yang diinvestasikan serta biaya insidentil lainnya. Di pasar berjangka suku bunga, ini mengacu pada perbedaan antara imbal hasil pada instrumen kas dan biaya dana yang diperlukan untuk membeli instrumen tersebut. Juga disebut sebagai Biaya Carry. Biaya Operasional Biaya bunga yang timbul saat uang pinjaman digunakan untuk membiayai posisi saham atau opsi. Biaya tercatat juga dapat dipandang sebagai biaya peluang investasi dibandingkan dengan jumlah uang tunai yang sama pada tingkat bunga saat ini. Komoditi Tunai Komoditi fisik sebenarnya dibedakan dari kontrak berjangka berdasarkan komoditas fisik. Juga disebut sebagai Aktual. Pasar Tunai Tempat dimana orang membeli dan menjual instrumen yang mendasari kontrak berjangka, seperti bursa efek. Istilah quotspotquot dan quotspot pricequot biasanya mengacu pada harga pasar tunai untuk instrumen dasar yang tersedia untuk pengiriman segera. Harga Tunai Harga dari komoditas pokok yang mendasari kontrak berjangka didasarkan pada. Setelmen Tunai Biasanya dikaitkan dengan opsi indeks, inilah proses dimana pemegang opsi menerima nilai intrinsik opsi secara tunai saat kadaluarsa. Dalam kasus ini, penjual opsi bertanggung jawab atas pembayaran tunai. Ini berbeda dengan opsi ekuitas dimana saham dipertukarkan pada saat kadaluarsa daripada uang tunai. Certificate Of Deposit (CD) Deposito berjangka yang disimpan di bank yang membayar bunga tertentu kepada deposan. CFTC Komisi Perdagangan Berjangka Komoditi. Rantai Lihat rantai pilihan. Chicago Board of Trade (CBOT) Pertukaran futures terbesar di dunia, didirikan pada tahun 1848. Chicago Mercantile Exchange (CME) Pertukaran ternak terbesar di dunia, ia menelusuri asal-usulnya ke sekelompok pedagang pertanian yang membentuk Chicago Produce Exchange pada tahun 1874. Ini diberi nama sekarang pada tahun 1919. Circuit Breaker Sistem penghentian perdagangan terkoordinasi pada pasar ekuitas dan ekuitas derivatif yang dirancang untuk memberikan periode pendinginan selama pergerakan harga intraday yang besar. Perhentian tersebut dipicu oleh penurunan tertentu dalam indeks saham berbasis luas seperti Dow Jones Industrial Average atau SampP 500. Jelas Proses dimana clearinghouse menyimpan catatan semua perdagangan dan menyelesaikan arus margin pada mark-to - Dasar pasar untuk anggota kliringnya. Kelas Pilihan Panggilan atau daftar yang berkaitan dengan instrumen dasar yang sama. Tutup Jangka waktu di akhir sesi perdagangan saat semua pesanan terisi dalam kisaran penutupan. Closed-end Funds Sebuah dana yang tidak mengeluarkan saham baru atau menerima uang baru setelah penawaran umum perdana. Efek tertutup bisa dibeli di pasar terbuka, seperti saham. Close-out Last Trade Memeriksa kotak ini memungkinkan Xecutereg mengetahui bahwa Anda ingin berpartisipasi dalam penutupan perdagangan saat peringatan ini diterima dari layanan penasihat Anda. Menghapus centang kotak ini memungkinkan Xecutereg tahu bahwa Anda ingin menutup posisi Xecutereg Anda sendiri. Harga Penutup Harga transaksi terakhir untuk kontrak opsi tertentu pada akhir hari perdagangan. Ini mungkin atau mungkin tidak sama dengan harga penyelesaian yang digunakan oleh OCC untuk menentukan nilai akhir dari akun hari. Penutup Kisaran Kisaran harga yang terkait erat di mana transaksi terjadi pada saat penutupan pesanan jual beli pasar pada saat penutupan mungkin telah terisi pada titik manapun dalam kisaran tersebut. Transaksi Penutupan Pembelian atau penjualan opsi yang mengimbangi posisi terbuka yang ada. Misalnya, jika perdagangan pertama Anda adalah membeli opsi, kontrak itu dianggap terbuka dan diperhitungkan dengan bunga terbuka sampai Anda menjualnya. Demikian juga, jika Anda menjual kontrak sebagai transaksi pembukaan Anda, Anda akan memiliki posisi terbuka dan terbuka sampai Anda membeli kontrak dalam transaksi penutupan. Collar Strategi ini melibatkan pembelian saham dan penjualan call terhadap saham tersebut (closing call), saat membeli put option pada saham yang sama (protective put). Juga dikenal sebagai quotfencequot atau quotcylinderquot. Gunakan terutama untuk melindungi posisi stok yang ada. Jaminan Sekuritas yang marjinal (misalnya saham, uang tunai) menggunakan basis untuk meminjam uang. Jika nilai sekuritas (terhadap pinjaman dilakukan) dips secara signifikan, investor mungkin terpaksa memberikan tambahan agunan atau melikuidasi sebagian dari posisi untuk melunasi pinjaman tersebut. Kombinasi Spread Sebuah istilah luas digunakan untuk menggambarkan posisi yang terdiri dari jumlah panggilan panjang yang sama dan short puts atau long puts dan short call. Kombinasi sering kali memiliki harga strike dan harapan yang berbeda. Commercial Paper Merupakan hutang tanpa jaminan yang dikeluarkan oleh perusahaan untuk membiayai kebutuhan jangka pendeknya. Kedewasaan berkisar antara 2 sampai 270 hari. Komoditi Pasar berjangka umum, tanpa mengacu pada bulan pengiriman tertentu. Misalnya, Jagung, Canadian Dollar, dan SampP 500 disebut komoditas. Sebuah bulan pengiriman yang digunakan bersamaan dengan komoditas mengindikasikan kontrak tertentu, seperti Emas Desember atau Gula Maret. Kolam Komoditi Suatu perusahaan di mana dana disumbangkan oleh sejumlah orang digabungkan untuk tujuan kontrak berjangka atau kontrak opsi. Konsepnya mirip reksa dana di industri sekuritas. Juga disebut sebagai kolam. Commodity Pool Operator (CPO) Individu atau organisasi yang mengoperasikan atau meminta dana untuk komoditas. CPO umumnya diharuskan terdaftar dengan CFTC. Penasihat Perdagangan Komoditi (CTA) Seseorang yang, untuk kompensasi atau keuntungan, secara langsung atau tidak langsung menyarankan orang lain mengenai kelayakan membeli atau menjual futures atau opsi komoditas. Memberikan saran termasuk menjalankan otoritas perdagangan atas akun pelanggan. CTA umumnya diminta untuk terdaftar di CFTC. Bunga Senyawa Bunga yang diperoleh atas investasi dan bunga asli yang telah diakumulasikan. Condor Resiko terbatas, strategi reward terbatas dengan karakteristik profit yang mirip dengan kupu-kupu. Dalam kasus ini, 4 opsi pada 4 strike price digunakan. Seperti kupu-kupu, harga strike luar membuat quotwings. quot Berbeda dengan the butterfly quotbodyquot yang terdiri dari dua pilihan pada strike tengah, condor quotbodyquot terdiri dari satu pilihan pada masing-masing dua serangan tengah. Pernyataan Konfirmasi Pernyataan yang dikirim oleh Merchant Futures Commission kepada pelanggan saat posisi futures atau opsi telah dimulai. Pernyataan tersebut menunjukkan harga dan jumlah kontrak yang dibeli atau dijual. Terkadang dikombinasikan dengan Purchase and Sale Statement. Contango Sebuah kondisi yang ditandai dengan harga futures berada di atas harga spot masa depan yang diharapkan. Akibatnya, harga akan turun ke harga spot sebelum tanggal pengiriman. Pesanan Orderstrade Kontinjen yang bekerja berdasarkan kondisi preset. Waktu Kontinjen Jam dimana pesanan kontinjensi akan berlaku. Untuk menggunakan fitur ini dengan sendirinya, atur harga kontinjensi menjadi lebih besar dari 1. Contingent Trailing Stop Perintah stopquot quottrailing hanya akan ditempatkan jika harga pasar untuk keamanan (saham) yang ditentukan memenuhi kriteria (lebih besar dari atau kurang dari harga yang dimasukkan). ). Ini berarti Anda dapat memicu perintah stopquot quottrailing, stop order yang bergerak seiring dengan pergerakan yang baik dalam keamanan, ketika sebuah saham atau indeks mencapai tingkat harga yang diinginkan berdasarkan harga dagang terakhir dari keamanan. Kontrak Di pasar berjangka, instrumen perdagangan standar yang menentukan kuantitas dan kualitas suatu komoditas (atau aset keuangan) untuk pengiriman (atau penyelesaian tunai) pada tanggal yang ditentukan di masa depan. Konvergensi Kecenderungan harga komoditas fisik dan futures mendekati satu sama lain, biasanya selama bulan pengiriman. Juga disebut quotnarrowing dari basis. quot Convertible Bond Fitur keamanan hutang yang memungkinkan pemegangnya masuk ke masalah lain. Obligasi Korporasi Kewajiban hutang yang dikeluarkan oleh perusahaan. Biaya Carry See Carrying Charge. Tingkat Kupon Persentase tingkat suku bunga atas efek pendapatan tetap. Kupon Yield Merupakan pembayaran kupon obligasi dibagi dengan nilai nominal. Cover Sebuah istilah yang digunakan untuk menggambarkan tindakan pilihan pembelian untuk menutup posisi short yang ada. Dalam hal ini, pembelian juga merupakan transaksi penutupan. Rekening Tabungan Pendidikan Coverdell Akun yang dirancang untuk membantu mendanai pendidikan anak-anak. Kontribusi dikenai pajak, namun penghasilan yang digunakan untuk memenuhi kualifikasi biaya pendidikan bebas pajak. Seluruh akun harus dicairkan sebelum ulang tahun ke 30 penerima manfaat. Setiap penarikan setelah tanggal ini akan dikenai pajak penghasilan dan denda. Akun tersebut dapat ditransfer ke anggota keluarga yang lain. Covered Call Sebuah posisi opsi short call terhadap posisi panjang di underlying stock atau futures. Covered Combination Lihat penutup yang mencekik. Covered Option Opsi dimana penjual memiliki cukup agunan (baik secara tunai maupun saham) untuk memenuhi kontrak dalam hal penugasan. Covered Call - opsi panggilan dianggap tertutup saat penulis (penjual) opsi sudah memiliki saham dan tidak harus melakukan pembelian pasar terbuka seandainya sebuah penugasan terjadi Covered Put - opsi put dianggap tertutup saat penjual memiliki cukup uang. Dalam rekening untuk membeli saham pada harga strike jika pemegang opsi tersebut memiliki hak untuk menjual saham pada harga tersebut. Covered Strangle Sebuah panggilan singkat dan short put dengan kadaluarsa yang sama namun harga strike yang berbeda dikombinasikan dengan posisi stock yang panjang. Secara teknis, untuk menggambarkan ini sebagai quotcoveredquot adalah sedikit keliru karena hanya dengan panggilan singkat yang ditutupi oleh persediaan yang panjang. Untuk jangka pendek yang harus ditutupi juga, harus ada cukup uang di rekening untuk menutupi pembelian saham pada harga strike strike jika terjadi penugasan. Kredit Kenaikan saldo kas akun akibat penjualan atau deposit. Credit Spread (juga LimitCredit) Selisih nilai antara dua pilihan, dimana nilai posisi short melebihi nilai posisi long. Bear call spread dan bull put spreads adalah contoh spread kredit. Cross-Hedging Melewati komoditas tunai dengan menggunakan kontrak berjangka yang berbeda namun terkait saat tidak ada kontrak berjangka untuk komoditi uang yang dilindung nilai dan pasar uang tunai dan futures mengikuti tren harga yang sama (misalnya, menggunakan kedai kedelai untuk lindung nilai tepung ikan). Cross-Margining Prosedur untuk memilah-milah sekuritas terkait, opsi, dan kontrak berjangka bersama-sama ketika rumah kliring berbeda membersihkan setiap sisi posisi. Cross Rate Nilai tukar antara dua mata uang yang dianggap non-standar di negara tempat pasangan mata uang tersebut dikutip. Misalnya, di Amerika Serikat, kutipan GBPJPY akan dianggap sebagai tingkat bunga silang, sedangkan di Inggris atau Jepang, akan menjadi salah satu pasangan mata uang utama yang diperdagangkan. Nilai Posisi Saat Ini Jumlah dari nilai pasar saat ini dari saham marjin, obligasi dan reksa dana menggunakan data real-time. Posisi pendek dikurangkan dari jumlah ini, sehingga jumlah negatif sama dengan nilai lebih pendek daripada nilai panjang. Tingkat Kupas Hasil Saat Ini dibagi dengan harga pasar obligasi. CUSIP A CUSIP adalah pengenal unik yang diberikan pada obligasi pada saat diterbitkan. Rekening Kustodian Akun dibuat untuk kepentingan anak di bawah umur yang dikelola oleh orang dewasa sebagai penjaga. Rekening IRA Kustodian Akun dibuat untuk kepentingan anak di bawah umur yang dikelola oleh orang dewasa sebagai penjaga dan dibatasi oleh peraturan yang terkait dengan akun IRA yang sesuai. Lihat juga IRA tradisional dan Roth IRA. Segregated Funds Pelanggan Lihat Segregated Account. Siklus Bulan kedaluwarsa yang terkait dengan serangkaian opsi tertentu. Tanggal Berakhir Ini adalah hari pertama bunga dimulai pada obligasi yang baru diterbitkan. Day Order Perintah untuk melakukan trading yang otomatis akan dibatalkan pada akhir hari perdagangan jika belum terisi. Perdagangan Hari Setiap posisi dimulai dan ditutup pada hari yang sama. Debenture Bond Sebuah hutang oleh perusahaan dan didukung oleh nama baik perusahaan. Debit Penurunan saldo kas akun akibat pembelian atau penarikan. Debit Spread (juga LimitDebit) Perdagangan yang mengurangi saldo saldo akun karena biaya opsi yang dibeli (long position) melebihi hasil penjualan opsi pendek. Bull call spread dan bear put spreads adalah contoh spread debet. Rasio DebtEquity Suatu ukuran leverage perusahaan, dihitung dengan membagi hutang jangka panjang dengan ekuitas pemegang saham biasa, umumnya menggunakan data dari tahun fiskal sebelumnya. Peluruhan Juga dikenal sebagai peluruhan waktu. Cara di mana nilai teoritis suatu opsi berkurang seiring berjalannya waktu. Pengukuran spesifik perubahan opsi dalam nilai dari waktu ke waktu ditunjukkan oleh huruf Yunani theta. Tingkat di mana opsi kehilangan nilainya meningkat lebih cepat selama 30 hari terakhir dari pilihan kehidupan. Bulan Pengiriman yang Ditangguhkan Bulan pengiriman jauh dimana perdagangan berjangka sedang berlangsung, yang dibedakan dari bulan pengiriman berjangka terdekat. Pengiriman (futures) Pengalihan komoditas tunai dari penjual kontrak berjangka ke pembeli kontrak berjangka. Setiap bursa berjangka memiliki prosedur khusus untuk pengiriman komoditas tunai. Beberapa kontrak berjangka, seperti kontrak indeks saham, adalah uang yang diselesaikan. Pengiriman (opsi) Tindakan memenuhi kewajiban kontrak atas penugasan. Bagi seorang penulis panggilan, pengiriman terjadi saat saham dipindahkan ke pemegang panggilan pada harga strike yang ditentukan dalam kontrak. Bagi seorang penulis, pengiriman terjadi ketika penulis opsi membayar harga yang telah disepakati untuk saham tersebut dan kemudian menerima sahamnya. Bulan Pengiriman Lihat Bulan Kontrak. Pemberitahuan Pengiriman Pemberitahuan yang menyatakan niat anggota kliring untuk mengirimkan sejumlah komoditi yang terkait dengan penyelesaian kontrak berjangka. Delta Sensitivitas suatu opsi nilai teoritis terhadap perubahan harga underlying (futures contract atau 100 shares of stock). Secara khusus, perubahan yang diharapkan pada harga opsi diberikan satu unit perubahan harga yang mendasari. Pilihan panggilan delta bervariasi dari 0 sampai 1,00, sementara pilihan put delta bervariasi dari -1.00 sampai 0. Kontrak berjangka atau 100 lembar saham memiliki delta 1.00. Delta Neutral Proses dimana trader profesional mengimbangi opsi posisi dengan saham untuk menciptakan posisi yang memiliki 0 delta. Posisi delta nol, menurut definisinya, tidak panjang dan pendek. Karena itu, secara teoritis posisi risikonya terbatas. Derivatif Kontrak keuangan yang nilainya kuotot dari kuotasi lain, seperti saham, obligasi, komoditas, atau indeks pasar seperti SampP 500 atau Wilshire 5000. Jenis derivatif yang paling umum adalah opsi, futures, dan sekuritas berbasis mortgage. . Diagonal Spread Sebuah posisi dimana trader membeli dan menjual options dengan strike price dan expirations yang berbeda. Misalnya, penyebaran diagonal dapat dibuat dengan membeli satu Juli 75 untuk menelepon dan menjual satu panggilan pada bulan Juni 70. Saham DIAMOND di ETF, Diamonds Trust Series I, yang melacak Dow Jones Industrial Average. Dana tersebut terstruktur sebagai unit investment trust. Diskon (1) Jumlah harga akan dikurangi untuk membeli komoditas kelas bawah (2) yang terkadang digunakan untuk mengacu pada perbedaan harga antara futures bulan pengiriman yang berbeda, seperti dalam frasa quotJuly diperdagangkan pada harga diskon sampai bulan Mei, quot Menunjukkan bahwa harga bulan Juli turun lebih rendah dari pada Mei (3) yang diterapkan pada harga gabah yang berada di bawah harga futures. Tingkat Dividen Tingkat bunga tetap atau adjustable yang dibayarkan pada saham biasa atau saham preferen. Dow Jones Industrial Average (DJIA) Indeks pasar saham A. S. tertua dan paling dikenal luas, Dow mewakili pergerakan harga dari 30 perusahaan yang, menurut pendapat editor The Wall Street Journal, yang paling mewakili ekonomi Amerika. Downtick Ketika perdagangan terbaru untuk instrumen tertentu terjadi pada harga yang lebih rendah daripada perdagangan segera sebelum itu. E Latihan awal Hak yang diberikan oleh opsi Amerika yang memungkinkan pemegangnya untuk membeli atau menjual saham pada harga strike sebelum tanggal kadaluwarsa. Laba per Saham Laba total perusahaan dibagi dengan jumlah saham yang beredar. Opsi Ekuitas Suatu kontrak yang memungkinkan pemegangnya untuk membeli atau menjual saham dari saham publik dengan harga yang telah ditentukan. Opsi Eropa Suatu kontrak yang bisa dilakukan hanya pada tanggal kadaluarsa, bukan sebelumnya. Dana yang diperdagangkan di bursa (ETF) Dana terdiri dari sekeranjang sekuritas yang dirancang untuk melacak indeks dan perdagangan seperti saham biasa. Exchange for Physical Transaksi yang umumnya digunakan oleh dua hedgers yang ingin bertukar futures untuk posisi kas. Juga disebut sebagai quotagainst actualsquot atau quotversus cash. quot Tanggal ex-dividend Tanggal sebelum investor harus memiliki saham agar memenuhi syarat untuk menerima dividen apa pun telah diumumkan. Pada suatu hari saham menjadi ex-dividend, harga saham turun sebesar jumlah dividen sejak orang membeli setelah titik tersebut tidak akan menerima dividen. Hal ini sangat penting bila Anda berada dalam posisi spread. Hal ini tidak biasa untuk panggilan singkat yang akan diberikan pada hari sebelum hari Ex-Dividen (dengan pemberitahuan datang pada hari Ex-Dividen). Ini berarti pemegang spread akan bertanggung jawab atas dividen. Eksekusi Proses menyelesaikan order untuk membeli atau menjual sekuritas. Begitu perdagangan dijalankan, dilaporkan oleh Konfirmasi. Juga dikenal sebagai quotFillquot. Latihan Untuk meminta hak yang terkait dengan kontrak opsi tertentu. Saat menjalankan opsi panggilan, pemegang membeli saham dengan harga yang telah ditentukan (strike) dari penjual opsi. Dalam kasus put, pemegang opsi menjual saham kepada penjual opsi dengan harga strike. Latihan dengan Exception Juga dikenal dengan Automatic Exercise. The procedure implemented by the Options Clearing Corporation (OCC) to protect customers from losing the intrinsic value of options they forget to exercise. The OCC automatically exercises all stock option that have at least 0.05 of intrinsic value or an index option worth 0.01 or more. Exercise Price Also known as Strike Price. The price specified by the option contract at which the holder can buy or sell the underlying stock. Expense Ratio The percentage of total assets used to pay for fund expenses. Expiration Date Generally the last date on which an option may be exercised. It is not uncommon for an option to expire on a specified date during the month prior to the delivery month for the underlying futures contracts. Extrinsic Value Also known as time value. The amount by which the current price of an option exceeds its intrinsic value. The price of out-of-the-money and at-the-money options is made up exclusively extrinsic value. f Face Value The dollar value of a U. S. Treasury Bill at maturity. T-Bills are issued at a discount to face value and gradually increase in value until reaching the full face value on the maturity date. Fair Value When the market price of an option is in line with its theoretical value as predicted by a formula such as Black-Scholes. Fast Market A market in which the bids and offers change so quickly that the difference between what is quoted and where a trade actually takes place may be significant. In a fast market, it often happens that customers dont get filled on orders where they might expect. When this occurs during a fast market, brokers generally cant be held responsible. Federal funds rate The interest rate that is charged by banks on overnight loans to other banks. Fill See Execution. Fill Or Kill An order that must be filled immediately or canceled. FINRA The Financial Industry Regulatory Authority (Formerly referred to as NASD), is the largest non-governmental regulator for all securities firms doing business in the United States. First Notice Day (FND) The first day on which notice of intent to deliver a commodity in fulfillment of an expiring futures contract can be given to the clearinghouse by a seller and assigned by the clearinghouse to a buyer. Varies from contract to contract. Floor Broker A trader on the exchange floor who executes customer orders. Floor Trader A person on the exchange floor who buys and sells contracts for his or her own account. In this capacity, the person acts as a market maker. Foreign Exchange The foreign exchange market. This is the cash market for foreign currencies. Trade does not occur on centralized contract markets but rather, over-the-counter in an international network of dealers. Forex See Foreign Exchange. Forward (Cash) Contract A contract which requires a seller to agree to deliver a specified cash commodity to a buyer sometime in the future. All terms of the contract are customized, in contrast to futures contracts whose terms are standardized. Forward contracts are not traded on exchanges. Free Riding The practice of buying shares or other securities without actually having the funds to cover the trade. This typically occurs when one closes out a position prior to funds being settled. Free Riding Violation An account that engages in free riding is considered to be in violation, and the account runs the risk of being put on trade restriction. This trade restriction does not prevent an account from trading, but does prevent an account from utilizing unsettled funds to initiate a trade. A free-riding violation restriction lasts 90 days. Fund Assets Amount of assets currently in the fund. Funds Available to Withdraw Estimated based on cash available and for margin accounts, it is based on the leverage from your current marginable securities. Requests to withdraw funds may be effected by the pricing of positions and the settlement of transactions. Withdrawal is subject to approval and may be delayed or refused due to the processing of trades, other withdrawals or position risk. Fund Name The official name of the fund, i. e. AIM Balanced Fund. Fundamental Analysis The practice of evaluating the attractiveness of a particular stock using financial information (e. g. revenue, profit, and management performance) as it relates to the current stock price. See Technical Analysis. Fungibility The ability to trade the same instrument interchangeably across exchanges or other marketplaces. Futures Contract A firm commitment to make or accept delivery of a specified quantity and quality of a commodity during a specific month in the future at a price agreed upon at the time the commitment was made. Futures Cash Total required segregated funds after a futures position is initiated. Funds must remain segregated until the position is closed. FX See Foreign Exchange. g Gamma The Greek letter used to represent the rate of change of an option delta as the underlying price changes. This information is primarily only helpful to professional traders who manage large positions. Globex The Chicago Mercantile Exchanges electronic trading platform. Some futures contracts are available for trading on Globex only during the U. S. evening hours, while others - such as the very popular E-mini contracts - trade electronically nearly around-the-clock. Good-Until-Cancelled (GTC) An order to execute a trade that remains open until the trade is completed or the customer cancels the order. Unlike a day order, which expires at the end of a trading day, a GTC order will remain in effect until it is filled or cancelled. The Greeks A term that refers to the analytical tools used by traders to manage risk. These include: Delta, Gamma, Theta, Vega and Rho. h Hedge A trade initiated for the primary purpose of protecting an established position (e. g. the purchase of puts to protect a long stock position). Hedge Ratio See Delta (2) and Delta Neutral. High-Yield Bond A bond with a credit rating Ba (Moodys) or BB (SampP) or lower. Historical Volatility A measurement of the actual movement of stock price over a specific period of time. This number can be plugged into an option pricing formula like Black-Scholes to determine if current option prices are high or low relative to the stocks past performance. See Implied Volatility. Holder The person who currently owns calls, puts or stock. Horizontal Spread Also known as a time or calendar spread. This spread is established by buying and selling options with different expirations but the same strike price. For example, if you bought the July 45 call and sold the June 45 call, youd be long the calendar. i ISE International Stock Exchange. The ISE is a completely electronic exchange. Implied Volatility The amount of movement expected in the stock given the current price of the options. Index As it relates to stocks, an index is created by combining multiple stocks and monitoring their performance as a group. A change in the index, therefore, represents the cumulative change of all individual components. The SampP 100 is an index that tracks the performance of 100 top companies. Index Option An option based on an index, such as the SampP 100, rather than an individual stock. These options are typically cash-settled because it would be too cumbersome to buy or sell all of the stocks that make up the index in the event of an assignment. Indicated Annual Dividend Represents the amount paid to a shareholder during the course of a year, based upon the current indicated periodic dividend (usually quarterly). Individual Account Account ownership by a single individual in their legal name only which, upon death of the owner, the account typically passes to the control of his or her estate. Individual Retirement Account (IRA) A tax-deferred retirement account set up with a financial institution such as a bank, broker, or mutual fund in which contributions may be invested in many types of securities such as stocks, bonds, money market funds, CDs, etc. Also known as a quotTraditionalquot IRA. For other types of IRAs, see Keogh plan, Simplified Employee Pension (SEP) plan, 401(k), Roth, or Rollover IRA. In-the-Money An option with intrinsic value because its strike price is below (in the case of a call) or above (in the case of a put) the current market price of the underlying stock. Initial Margin The amount a futures market participant must deposit into his margin account at the time he places an order to buy or sell a futures contract. Also referred to as original margin. See also maintenance margin. Intermarket Spread A spread between commodities that are traded on more than one market. For example, a typical intermarket spread might be made between Chicago wheat and Kansas City wheat. Intermediary Bank The intermediary bank is the bank that your financial institution uses to accept wires. Intrinsic Value The portion of an options price that can be account for by the amount the option is in-the-money. For example, with the stock at 74, a 70 call trading at 5.25 has 4 of intrinsic value (74-70) and 1.25 of extrinsic or time value (5.25-4). Inverted Market See Backwardation. Iron Butterfly A limited risk, limited reward strategy with the same general profit graph as a butterfly, but created using a combination of puts AND calls (unlike the butterfly which is ALL puts or ALL calls). In this case, the body of the iron butterfly is created by a long (or short) straddle. The wings are created using a short (or long) strangle. To create an iron butterfly, if you sell the straddle, you buy the strangle and vice versa. j Joint Tenants with Rights of Survivorship Account ownership by two or more people in which, upon death of an owner, the surviving account owners automatically retain ownership of the account. Penyewa Bersama dalam kepemilikan Akun Umum oleh dua atau lebih orang di mana, setelah kematian pemilik, persentase proporsional dari akun tersebut biasanya sampai ke rumahnya. k Keogh A U. S. tax-deferred qualified retirement plan for self-employed individuals and unincorporated businesses also known as a self-employed pension. l Last Trading Day (LTD) The final day in which trading may occur for a particular delivery month. After the last trading day, any remaining commitment must be settled for delivery. LEAPSreg Long-term Equity Anticipation Securities, or LEAPSreg, are long-term stock or index options that expire more than 9 months in advance, and can last as long as 2 years. LEAPS trade like normal options but allow investors to benefit from the appreciation of equities while placing a lot less money at risk than is required to purchase stock. Leg Part of a larger position consisting of multiple options. By legging into a spread, a trader does part of the spread at one price and hopes the market will move so the rest of the spread can be completed at a better price. Leverage A characteristic of options that makes it possible for option holders to realize a greater percentage of profit and loss than they would with a long or short position in the same underlying stock. For example, a 5 move in the stock might increase (or decrease) the value of the option position by 50. Level-Load Funds Mutual funds that charge a high 12b-1 fee over the life of the fund. These funds do not charge any other sales fee. Limit Order To buy or sell a predetermined number of shares at a specified price (or better than specified price, if available). Limit orders guarantee a price (or better price than specified), but do not guarantee an execution. Liquid Market A high volume trading environment in which buyers and sellers benefit from narrow bid-ask spreads. Under these conditions, large orders can be executed without significantly impacting the market price. Liquidity A measure of how quickly a security can be sold at a fair price and converted to cash. Illiquid securities are ones that dont trade in high volume. For example, having too many shares of a stock that doesnt trade frequently would make for a position that cannot necessarily be sold. Listed Option An exchange traded put or call contract issued by the OCC with standardized strike prices and expiration dates. Load A sales commission paid when purchasing shares of a mutual fund (called a front-end load) or when redeeming shares of a mutual fund (called a back-end load). For example, if the fund has a front-end load of 5, for every 100 you place into the fund, only 95 is invested, with 5 going to the salesperson andor mutual fund company. Long Position 1) A position that results from an initial purchase of stock or options, i. e. long calls, long puts, long stock 2) a position in which the holder expects to benefit from an increase in the price of the underlying, i. e. long stock, long call, short put. Lot A unit of trading. In the futures market, one lot refers to one futures or options contract. In the forex market, one lot is equivalent to 100,000 units of a particular foreign currency. m Management fee The money paid to the manager(s) of a mutual fund, annuity subaccount, or other type of professionally managed investment. Also called an advisory fee. Maintenance Margin A sum, usually smaller than the initial margin, which must remain on deposit in the customers account for any position. A drop in funds below this level requires a deposit back to initial margin levels. Margin The amount of collateral or equity required to borrow money for investing purposes. Traders who buy on margin borrow a percentage of the purchase price from their brokerage firm. Margin Balance For cash accounts including IRAs the quotmargin locationquot is used by our system in order to custodize spread transactions and positions eligible for spread transactions. Use of the margin location in cash accounts results in custody of balances in quotmarginquot but does not indicate an extension of credit. Margin Call A brokerage firms demand that a customer deposit enough money or securities to bring a margin account back up to the minimum maintenance amount. Margin Equity Percentage Calculates the value of your securities in relation to the money you have borrowed. Keep in mind, a negative margin balance does not necessarily indicate borrowed funds. Market-If-Touched (MIT) Order An order placed much like a Limit order (buy orders should be placed below the current market price sell orders above the current market price), but when the market touches the specified price, the order immediately converts to a Market order. MIT order are used by traders who definitely want to be filled if the market touches the specified order price. Market Maker A floor trader who provides two-sided markets (bid-ask) and takes the opposite side of a customer trade. In this capacity, market makers provide liquidity in the market. Market makers may trade for their own accounts or they may represent a proprietary trading firm. Market Maker System A competitive trading environment where floor traders create efficiency and liquidity by competing with each other to provide the best bids and offers. Mark-to-Market The process of valuing an account at the end of the day based on the settlement prices of the securities. Market-Not-Held-Order An order issued by a customer allowing the floor broker to use his or her best judgment regarding the price and timing of the trade. Market-on-Close (MOC) Order An order to buy or sell a futures or options contract at the prevailing market price during the closing range (usually, the last 30-60 seconds of trading). Similar to a market order in that no price is specified during order entry. This order is ideal for a trader who wishes to offset an existing position by the close but doesnt wish to wait to the last minute to enter a market order. Market Order A customer order that is to be executed as quickly as possible at the prevailing market price. Married Put Strategy The practice of simultaneously buying stock and buying puts to limit downside risk. MIT See Market-if-Touched Order. MOC See Market-on-Close Order. Money Market Funds A type of mutual fund contains securities such as T-bills and commercial paper. Most of these funds invest in short-term debt instruments with no longer than a 90 day duration. Money Purchase Plan A Trust in which a defined portion or percentage of the account is distributed to the trustee(s) on a defined basis whether the account is profitable or not. Mortgage-Backed Securities A number of mortgages bundled together into a single security to be sold. Municipal Bond A bond that is issued by a state or local government. Historically, the interest paid on these bonds has been exempt from federal, state and local taxes in the state of issuance. Municipal Securities Rulemaking Board (MSRB) An independent self-regulatory organization in charge of establishing rules and regulations in trading of municipal securities. Mutual Fund An open-end investment company that invests the money of thousands of people in a number of securities to achieve a specific objective over time. Mutual Fund Category A number of mutual funds specialized to a certain type of investment objective, carrying similar levels of risks and returns. Mutual Fund Exchange Switching on mutual fund investment from one fund to a different fund within the same mutual fund family. Mutual Fund Family A group of mutual funds managed by a single company. n Naked Option Options that are sold on securities when the seller does not actually own shares of the underlying securities or options. Nasdaq (National Association of Securities Dealers Automated Quotations) A computerized system that stores and displays up-to-the-second price quotations for securities traded over the counter. National Best Bid or Offer (NBBO) A term applying to the SEC requirement that brokers make their best effort to offer customers the best available ask price when they buy securities and the best available bid price when they sell securities. NBBO See National Best Bid or Offer. NBBO Spread Quote An NBBO Spread Quote reflects the best quotes printed from participating exchanges on each leg of the spread or other combination combined. For a long leg, the NBBO single leg quotaskquot quote will be used, while short leg quotes will use the NBBO quotbidquot quote to combine for a synthetic NBBO combination trade quote. Nearby Delivery Month The futures contract month closest to expiration. Also referred to as the Spot Month. Net asset value (NAV) The price of each share of a mutual fund. It is calculated by subtracting the funds liabilities from its total assets, and dividing that figure by the number of shares outstanding. The NAV is the amount of money that an investor would receive for each share if the mutual fund sold all of its assets, paid off all of its outstanding debts, and distributed the proceeds to shareholders. Net income Gross income minus total expenses gives you net income. Youll find this information on the income statement. Net investment Gross, or total, investment minus depreciation. Net profit The bottom line. This is how much money the company made in profits. It can also refer to net profit margin, which is a percentage telling you how many cents on each dollar is pure profit. Net profit margin Net income as a percentage of sales. You get this by dividing net income by sales. Since its a percentage, it tells you how many cents on each dollar of sales is pure profit. New Next Trade Checking this box lets Xecutereg know that you wish to participate in the next new trade recommended by your advisory service. Unchecking this box lets Xecutereg know that you do not wish to participate in the next new trade recommended by your advisory service. New York Mercantile Exchange (NYMEX) Founded in 1872 as a market for cheese, butter, eggs, its principle commodities today include heating oil and petroleum products. New York Stock Exchange (NYSE) The oldest and largest stock exchange in the United States. No-load fund A mutual fund that does not charge a sales commission. Non-Acat An account transfer that is done manually because the delivering firm is not a member of the ACAT system, or you are requesting a partial transfer, which requires a manual process. When the transfer is done manually the request is physically forwarded to the delivering firm and upon their receipt they have up to 30 business days to act on it. Non-callable A security, such as a note or bond, that cannot be called prior to its maturity. Non-equity Option An option that has an underlying security other than stock, e. g. futures, commodities. Not Held An order submitted to a brokerage firm with the understanding that it will use its best efforts to execute the order according to the customers instructions, but the broker may not be held responsible or liable for any lost profits, trading losses, or damages resulting from the manner in which the order is handled. optionsXpress accepts contingent orders strictly on a quotNot Heldquot basis. o One Cancels Otherreg (OCO) A qualifier used when multiple orders are entered and the execution of one order cancels a second or alternate order. For example, with OCO you can place two orders linked to each other, allowing you to place a stop loss order on the same option. One Triggers Otherreg (OTO) An optionsXpress qualifier used when multiple stock or option orders are entered and the execution of one order submits a second or alternate order. Open-End Fund A mutual fund that continues to sell shares to investors, and will buy back shares when investors wish to sell. Opening Range Range of closely related prices at which transactions took place at the opening of the market buying and selling orders at the opening might be filled at any point within such a range. Opening Transaction A trade that creates a new position or adds to an existing one. The new position can consist of either short or long options or stock. Open Interest The number of contracts, either long or short, traded on a particular option that have not been offset by a closing transaction. A closing transaction lowers open interest while an opening transaction increases open interest. Open Outcry The term used to describe the pit-trading environment in which market makers compete for trades. Option A contract that grants the holder the right, but not the obligation, to buy or sell a particular security at a predetermined price for a set period of time. Conversely, the seller of the option has an obligation to fulfill the terms of the contract in the event of exercise by the option buyer. Option Buying Power Calculated based upon account equity less any requirements and pending purchases. Option Chain A way of quoting options prices through a list of all of the options for a given security, including the various strike prices, expiration dates, and whether they are calls or puts. Option Period The time from the creation of an option to its expiration. Option Clearing Corporation (OCC) The firm responsible for issuing and standardizing all exchange traded options. The OCC, which serves as an intermediary between buyers and sellers, guarantees that all option contracts are honored and executed according to their terms. Option Requirements The balance you must maintain based upon the risk of the options positions in your account. Please review our margin guidelines for more information. Option Writer The person who sells an option in an opening transaction thereby creating the obligation to meet the terms of the contract in the event of assignment. Original Issue Discount (OID) An original issue discount bond is a bond issued at a price below par value. A zero-coupon bond is an example of an OID. Out-of-the-Money An option that has no intrinsic value because its strike price is above (in the case of a call) or below (in the case of a put) the current market price of the underlying. Extrinsic or time value is the only component of an out-of-the-money options price. Over-the-Counter Market (OTC) A market where products such as foreign currencies are bought and sold by telephone and other electronic means of communication rather than on a designated futures exchange. p Pacific Exchange PCX Located in San Francisco, an exchange that trades equities and options. Pair Trading Commonly refers to buying one stock and selling another related stock against it. Parity The term used to describe an in-the-money option with a price that is the same as its intrinsic value. For example, with a stock at 50, a 40 call trading at 10 would be trading at parity because its price does not include any extrinsic or time value. In contrast, a 40 call trading at 10.25 would not be considered at parity because it includes a .25 of time value. Partial Fill A partial fill is when part of a limit order has been filled. A partial fill may be completed in the same day and then subsequently cancelled or the remainder may be filled. A day limit order that is partially filled will have the remainder cancelled at the end of the day if it has not been entirely filled. A partial fill on a GTC order may be carried over to the next market day until it is cancelled or filled in its entirety. Note: If a Good-Until-Cancelled (GTC) order is partially filled one day and the balance of the order is filled on another day, you will be charged two separate commissions. If you do not want to accept a partial fill for an order, you may indicate it is an quotAll-or-Nonequot order, however All-or-none orders have unique risks. See also All-or-None, GTC, split fill. Also, an order that is partially filled during the day but then modified (cancelled and replaced) will create a separate commission charge since this is a new order in the marketplace. Price-to-earnings ratio (PE) The share price of a stock, divided by its per-share earnings over the past year. PE (Forward) Priceearnings ratio, using earnings estimates for the next four quarters. PEG Ratio A stocks priceearnings ratio divided by its year-over-year earnings growth rate. Pending Purchases The current market costs and any potential margin requirements, based on real-time data, for the orders you have open. This sum includes OCO (quotone cancels otherquot) orders it does not include open contingent orders. Philadelphia Stock Exchange (PHLX) The Philadelphia Stock Exchange (PHLX) was founded in 1790. The PHLX trades stocks, equity options, index options and currencies. Physical Settlement The process of settling a futures contract at the expiration date by delivering the underlying instrument. Pin Risk When an underlying security settles at the options strike price. The risk results from short option holders not knowing if they will be assigned. Pips Slang forex reference to digits added to or subtracted from the fourth decimal place in a quoted currency rate, i. e. 0.0001. See also Points. Pit The area at an exchange where traders meet to buy and sell specific contracts (e. g. 30-year bond options, IBM options, DELL options). Points Predominately a forex term used to describe digits added to or subtracted from the fourth decimal place in a quoted currency rate, i. e. 0.0001. Pool See Commodity Pool. Portfolio All the securities held by an individual, institution, or mutual fund. Position The net of all open long and short contracts in a specific trading account. Position Limits Set by an exchange, this is the number of option contracts (or deltas) that an individual trader cannot exceed. The specifics of this limit differ by exchange and option type. Premium The extent to which an option price exceeds its intrinsic value. 2) the total price of an option including both intrinsic and extrinsic or time value. Price to Book Ratio A stocks capitalization divided by its book value. Price to Cash Flow Ratio A stocks capitalization divided by its cash flow for the latest fiscal year. Price to Sales Ratio A stocks capitalization divided by its sales over the trailing 12 months. Primary Market In cases where the same contract is traded on multiple exchanges, the exchange that handles the most volume is considered the primary market. This can change day to day. Profit Sharing Plan Trust A Trust in which a defined portion or percentage of the account profits are shared with the trustee(s) on a defined basis. Purchase and Sale Statement (PampS) A statement sent by a Futures Commission Merchant to a customer when a futures or options position has been liquidated or offset. The statement shows the number of contracts bought or sold, the prices at which the contracts were bought or sold, the gross profit or loss, the commission charges and the net profit or loss on the transaction. Sometimes combined with a Confirmation Statement. PutCall ratio A ratio of the trading volume of put options to call options. It is used to gauge investor sentiment. For example, a high volume of puts compared to calls indicates a bearish sentiment in the market. Put Option In the case of an equity option, a contract that gives the holder the right, but not the obligation, to sell a stock at a set price for limited period of time. The seller or writer of the option is obligated to buy the stock at the strike price in the event that the option is assigned. Pyramiding The practice of using accrued paper profits to margin additional trades. r Range The difference between the highest and lowest prices recorded during a given trading session, week, month, or year. Ratio Calendar Spread A strategy in which more options are bought or sold at one expiration than another. Ratio Spread 1) Any option strategy in which the number of contracts purchased is greater or less than the number sold. 2) a strategy in which the number of options traded against a stock are not in a 1:1 proportion with the stock. Ratio Write A partially covered position in which the options sold represent more shares than are covered by the corresponding stock position (e. g. long 100 shares of stock, short 2 out-of-the-money calls). If the stock price rises and the options are assigned, this person will have to turn over 200 shares at the strike price. However, since the person only has 100 shares, the potential loss on the position is unlimited because one of the calls is uncovered. Realized Profit amp Losses The profit or loss that results from closing a position. Redemption Fee Fee levied for selling shares of your index fund. Usually a fixed percentage of the total value of your fund. Refunding The retiring of a bond by issuing a new bond. Repair Strategy A stockoption strategy designed to compensate for a losing long stock position. In this case, an in-the-money call is purchased and two out-of-the-money calls are sold. The credit received effectively lowers the break-even point of the stock thereby covering some of the unrealized losses. Resistance A price level at the top of a trading range that a stock has reached on several occasions but has not penetrated due to increased selling pressure at that price. This is a key concept of technical analysis. Retender In specific circumstances, some contract markets permit holders of futures contracts who have received a delivery notice through the clearinghouse to sell a futures contract and return the notice to the clearinghouse to be reissued another long others permit transfer of notices to another buyer. In either case, the trader is said to have retendered the delivery notice. Retracement A reversal within a major price trend. Revenue Bond A municipal bond issued to finance a specific public works project and is supported by the revenues of that project. Reversal A change of direction in market price. rho The Greek letter representing the expected change in an options price given a 1 move in interest rates. Rolling A strategy in which the trader closes one position and immediately opens another position at a different strike or expiration. Rollover Moving all or a portion of tax-deferred retirement plan savings into another plan (e. g. moving 401(k) assets into an IRA). Rollover IRA A traditional individual retirement account holding money from a qualified plan, such as a 401(k). Roth IRA A tax-deferred retirement account that permits a contribution up to 4,000 per year or 4,500 per year if over age 50 (2005). Contributions are subject to taxes. However, withdrawals, subject to certain rules, are tax exempt. Round Turn A round turn counts both the buy and the sell of a trade as one event. In a typical exchange volume measurement, a one-contract trade between a buyer and seller would be counted as one round turn. From the customers perspective, a round turn represents two filled orders from his or her brokerage firm - one to take a position and one to offset that position (i. e. same customer, different trades). See also side. s Scalper A floor trader who profits from the spread between the bid and the offer as well as from short-term price fluctuations. SEC (Securities and Exchange Commission) The federal agency charged with protecting investors and maintaining the integrity of the securities markets. Secondary market A market that provides liquidity for previously listed securities. Securities Assets such as shares of stock, bonds, or any kind of financial asset that can be traded. Securities Investor Protection Corporation (SIPC) The SIPC maintains a special reserve fund authorized by Congress to help investors with assets in the hands of bankrupt and otherwise financially troubled brokerage firms. SIPC either acts as trustee or works with an independent court-appointed trustee in a fraud case to recover funds. The statute that created SIPC rules provides that customers of a failed brokerage firm receive all non-negotiable securities that are already registered in their names or in the process of being registered. At the same time, funds from the SIPC reserve are available to satisfy the remaining claims of each customer up to a maximum of 500,000. This figure includes a maximum of 100,000 on claims for cash. Sell To Close An order entered to close a long position. Generally used in futuresoptions investing to distinguish between establishing vs. closing a position. Consequently, a quotbuy to openquot order is always used to open a long position. Sell To Open An order entered to establish a new short position. Generally used in futuresoptions investing to distinguish between establishing vs. closing a position. Consequently, a quotbuy to closequot order is always used to close a short position. SEP IRA Simplified Employee Pension Plan IRA. A retirement plan for self-employed people or owners of small companies which allows them to defer taxes on investments intended for retirement. Selling Hedge Selling futures contracts to protect against possible decreased prices of commodities which will be sold in the future. Series of Options Calls and puts based on the same underlying stock with the same strike and expiration. Settled Funds After a trade has cleared, proceeds are considered settled funds. Stock trades settle in T 3 business days. All option trades settle in T1 business days. Mutual Fund trades settle at various times - with some being same day, others T1, and others still T3. Bonds can also vary in terms of a settlement date. Settlement Price The price established by the Options Clearing Corporation at the end of the trading day as a standard to value the securities in individual trading accounts or in the morning in the case of some European Options. The settlement price is based on the opening prices of all the stocks in a particular Index. These figures are then used to find the settlement price. Short Position An option or stock position that will profit from a decrease in the price of the underlying (e. g. short stock, short call, long put). Short Stock Position A position initiated by selling stock in an opening transaction with the goal of buying it later at a lower price (i. e. sell high, buy low). To accomplish this, the stock must be borrowed from a broker-dealer before it can be sold. Side A side considers the buy and sell actions of a trade as separate events. Each matched trade, and each contract, has two sides - the buyer side and the seller side. Taken together, these two sides equal one round turn. Measuring matched trade volume quotper sidequot counts volume on each side of the trade. Simplified Employee Pension (SEP) plan A SEP is an easy method for a small employer to establish a retirement plan for employees without the complex administration and expense found in qualified retirement plans. In fact, an employer may establish a SEP only if that employer has no qualified retirement plan in effect. Under a SEP, the employer may make a contribution of up to the lesser of 15 or 30,000 of compensation to IRAs established in each employees name. SIPC See Securities Investor Protection Corporation. Speculator A market participant who tries to profit from buying and selling futures and options contracts by anticipating future price movements. Speculators assume market price risk and add liquidity and capital to the futures markets. Spot Delivery Month The nearest delivery month among all those traded at any point in time. The actual contract month represented by the spot delivery month is constantly changing throughout the calendar year as each contract month reaches its last trading day. See Also Nearby Delivery Month. Spot Price The price quoted for the actual commodity same same as cash commodity price. Spread 1) the difference between the bid and the offer (e. g. if the bid-ask is 5- 5.30, the spread is 0.30). 2) a limited risk, limited reward strategy established by combining options that would, if separate, profit from opposite moves in the price of the underlying. Spread Stop Order A contingency order to buy or sell an option spread when the market reaches a particular level. When the price reaches that level specified in the stop order, the stop order triggers a sellbuy to closeopen the spread at the customers predetermined price (Limit or Market). Standard amp Poors 500 Index An index of 500 of the biggest publicly traded companies in the United States. The SampP 500 is generally thought of as the best measurement of the overall U. S. stock market. Static Return The return that an investor would make on a particular position if the underlying were unchanged in price at the expiration of the options in the position. Stock Buying Power Your purchasing power for stock margin accounts show twice the stock purchasing power of cash accounts for stocks that trade over 5 dollars. Stop-Limit Order Like a stop order, this order will be triggered by a move up or down to a particular price level. Once that level is reached, the order becomes a limit order, which must be executed at a specific price. In contrast, a regular stop order will be executed at the market price rather than at a specified price. Stop Order A contingency order to buy or sell a stock when the market reaches a particular level. When the price reaches that level specified in the stop order, the stop order becomes a market order and is executed at the best possible price. Stop-with-Limit Order Used by the trader who wishes to give the floor broker a limit as to how far through the specified stop the order may be filled. Two prices must be stipulated when the order is placed -- the stop price and the limit price. When the stop is elected, the order will be filled if it is possible to do so without exceeding the limit price. If this isnt possible, the order becomes a working limit order. Also, a stop with limit order will be placed as a straight limit order if, when received by the exchange, the stop price already has been violated. Straddle An option position in which a call and a put with the same strike price and expiration are both bought (long straddle) or sold (short straddle). A long straddle has unlimited profit potential given a large move up or down. A short straddle has limited profit (if the stock remains stable) and unlimited risk (if the stock moves significantly in either direction. Strangle An option spread strategy involving a long put and a long call or a short put and a short call with different strikes but the same expiration. The most common strangles involve out-of-the-money options. Strike Price Also known as Exercise Price. The price, specified by the option contract, at which the holder can buy or sell the underlying stock. Strike Price Interval The standard price difference between consecutive options. For stocks over 25, the strikes generally occur at 5 intervals (e. g. 30,35,40). Stocks below 25 have options that trade at 2.50 intervals. Subordinated Debenture A debenture whose claim to interest and principal of the corporation comes after those of the regular debt securities. Support In a period of falling prices, the support level is a price below which the stock tends not to trade because of the reemergence of b uyers. For example, a stock that has fallen near 27 on several occasions only to reverse the trend and increase in price is said to have support at 27. Symbol Ticker symbol. Synthetic Positions Also known as an equivalent position. By using a combination of options or options and stock, traders can create positions that have the same riskreward characteristics of option only or stock only positions. The following summarizes the most common synthetic positions. Synthetic long stock A short put option and a long call option with the same strike and expiration. Synthetic short stock A long put option and a short call option with the same strike and expiration. Synthetic long call A long put and a long position in the underlying stock. Synthetic short call A short put and a short position in the underlying stock. Synthetic long put A long call and a short position in the underlying stock. Synthetic short put A short call and a long position in the underlying stock. t Technical Analysis An approach to analysis of futures markets which examines patterns of price change, rates of change, and changes in volume of trading, open interest and other statistical indicators. See also Charting. Theoretical Value The fair value of an option as predicted by a mathematical formula such as Black-Scholes. This takes into account the following factors: strike price, the current price of the underlying, interest rates, time remaining until expiration, dividends (if any), and volatility. Theta The Greek letter representing the change in an options value given a one-unit (day) change in time. Tick The smallest increment an option, stock, or commodity price can change. Time Decay The way in which an option naturally loses value as time passes. Time Spread Also known as a horizontal or calendar spread. This spread is established by buying and selling options with different expirations but the same strike price. For example, if you bought the July 45 call and sold the June 45 call, youd be long the calendar. Time Value Also known as extrinsic value. The amount by which the current price of an option exceeds its intrinsic value. The price of out-of-the-money and at-the-money options is made up exclusively of extrinsic value. Total Money Markets amp Cash Defined as the net sum of your balances held in cash, margin, and money market funds. This does not include your mutual funds balances. CashMarginMoney Market sweep movements update daily before the market opens. Trader 1) An exchange member who buys and sells contracts in the trading pit of an exchange. 2) an investor who holds positions for a short period of time in an effort to capitalize on market momentum. Trading Level Your trading level has been determined based on your trading experience, income level, age and overall knowledge of options. The table below outlines the various trades permitted at each trading level. Trading Level Basic Definitions Traditional IRA A tax-deferred retirement account that permits a contribution up to 4,000 per year or 4,500 per year if over age 50 (2005). Earnings are tax-deferred until withdrawals begin. Eligible withdrawals may begin at age 59 12 or later, a 10 penalty will apply for non-qualified withdrawals made prior to age 59 12. Eligible withdrawals will be taxed at the current tax rate. Trailing Stop A quottrailing stopquot order is a stop order that moves along with a favorable movement in a security. Trailing sell stop orders will move upward a defined distance as long as the security moves upward. Trailing buy stop orders will move downward a defined distance as long as the security moves downward. Trailing (Stop) Trigger The price at which a trailing stop will activate. Contingent Trigger On entry of the order the customer can choose bid, ask or last. If last is chosen, it will only be used if it is in between the consolidated bid and ask. Transaction Costs The fees related to initiating and maintaining a position. These include commissions, margin fees, and exchange fees. Treasury Auction Where new issues of Treasury bills, notes and bonds can be sold to the investing public. Treasury Bills (T-Bills) Obligations issued by the department of the Treasury maturing in 13, 26 or 52 weeks. Treasury Bond (T-Bond) A long term government debt security with maturity of 10 to 30 years. Treasury Note (T-Note) A medium term government debt security with maturity of 1 to 10 years. Trend The general direction, either upward or downward, in which prices have been moving. Trendline In charting, a line drawn across the bottom or top of a price chart indicating the direction or trend of price movement. If up, the trendline is called quotbullishquot if down, it is called quotbearish. quot Triple witching It occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. This happens four times a year: The 3rd Friday of March, June, September and December. Trust A legal arrangement in which an individual (Trustor) gives fiduciary control of the account to a person or institution (Trustee) for the benefit of their estate or beneficiaries. A trust can include a variety of entities. Type of Options There are two option types: puts and calls. u Unit Investment Trust (UIT) An SEC-registered investment company which purchases a fixed, unmanaged portfolio of income-producing securities and then sells shares in the trust to investors. The major difference between a Unit investment Trust and a mutual fund is that a mutual fund is actively managed, while a unit investment trust is not managed at all. Uncovered Option Also known as a naked option. A short position, not protected by offsetting options, in which the writer of the options lacks the stock or collateral that would be required upon assignment. For example, a naked call writer doesnt own the stock that would have to be sold at the strike price if the calls were exercised. Similarly, a naked put writer doesnt have the full amount in the account to buy the underlying shares at the strike price in the event of an exercise. For obvious reasons, naked option writing is a risky strategy. Underlying Security The stock, commodity, or other financial instrument on which an option contract is based. Unsettled Funds Funds that are not available to withdraw until specified settlement. Cash accounts can purchase additional positions using unsettled funds but cannot close out the position until trades settle. UPC 11830 In 1993, the U. S. Securities and Exchange Commission approved a new section of the Uniform Practice Code (UPC) requiring FINRA members to close out short sales in NASDAQreg securities that meet a certain clearing short position threshold. Both NASDAQ National Marketreg and NASDAQ Small Cap Market securities can be restricted under UPC 11830. Under the rules, the short sellers brokerdealer must close out short sale of specific securities 10 days after normal settlement date if delivery of security has not accrued and the transaction is not exempt. Securities subject to close-out requirement are those with an aggregate quotclearingquot short position of 10,000 shares or more that equals or exceeds one half of one percent of the total shares outstanding. The FINRA will identify these securities daily based on data from National Securities and Clearing Corporation and compile a quotrestricted list. quot Any subsequent short-sale transaction in a security on the list that is not completed by delivery of shares within the prescribed time frames will be subject to mandatory close-out if a quotfail-to-deliverquot situation exists 10 days after normal settlement date. The rule applies to customer and proprietary short sales, but exempts quotbona fidequot market making activities and short sales that results in a quotbona fidequot fully hedged or arbitraged position. For more information, please see FINRA Notice to Members 93-53. Uptick When the most recent trade for a particular instrument occurs at a higher price than the trade immediately preceding it. v Vega The Greek letter representing the change in an options theoretical value given a 1 change in the volatility of the underlying. Versus Cash See Exchange for Physicals. Versus Purchase Notes This note is used to specify the original shares of stock or a fund sold for tax recording purposes. In order to designate shares, please enter a note in the free text field (e. g. quotVs. 200sh. XYZ BOT 8304quot). The note will appear under the quotRemarksquot area of your confirmation. Vertical Spread A position in which the options bought and sold have the same expiration but different strike prices. Volatility The mathematical measure of stock price fluctuation over a period of time. See Implied Volatility. w Warehouse Receipt A document guaranteeing the existence and availability of a given quantity and quality of a commodity in storage commonly used as the instrument of transfer of ownership in both cash and futures transactions. Write To sell an option in an opening transaction. Writer A person who has sold an option in an opening transaction and is now short a contract that may or may not be offset by stock or other options. x Xspread Direct Quotes These spread quotes are retrieved directly from exchange liquidity providers and represent quotes with a potential for discount beyond a combination of single leg quotes on spreads. y Yield The percentage return on an investment. Yield to Call (YTC) The yield of a bond or note if you were to buy and hold the security until the call date. This yield is only valid if the security is called prior to maturity. Yield to Maturity (YTM) The yield of a bond or note if you were to buy and hold the security until maturity. YTM takes into account interest rate, length of time to maturity, price paid and assumes all interest received over the life of the security can be reinvested at the original purchase yield. Free UK and Worldwide Delivery. Layanan Pertukaran Inggris Gratis. Layanan Pertukaran Seluruh Subsidized Worldwide. Pajak dan Tugas Semua harga yang tercantum di situs ini mencakup semua pajak dan bea, artinya tidak ada biaya tambahan untuk pengiriman. Harga yang Anda lihat akan menjadi harga yang Anda bayar. Inovasi Di garis depan bahan Hitech dalam Jeans motor yang diperkuat sejak tahun 1998. Leg panjang panjang diubah menjadi ukuran. Perlindungan Dampak Revolusioner Opsional CE menyetujui pelindung pinggul dan lutut D 3 O. Kualitas Dirancang di Inggris dengan standar tertinggi. Peningkatan Kenyamanan dan Perlindungan Perlindungan abrasi Ktech Paraaramid yang baru dan lembut dari pinggang sampai ke tulang kering. Warisan Keluarga kami telah memproduksi jeans denim sejak tahun 1955. Armor Knee Adjustable positioning of protectors. Abrasi Sembilan belas tahun terbukti proteksi. Lapisan keamanan ganda termasuk benang K-tech. Kantong Depan Terbuat seluruhnya dari denim untuk kekuatan ekstra. Zip YKK (waktu hidup dijamin). Paku keling kering yang bagus. Studs Hood branded studs. 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Akun Praktik: 50.000 Deposit Minimum: 2.000 Pialang forex sejak tahun 1999, Fortex Capital Marketing menawarkan platform berjalan sehari-hari dan sesi strategi, perpustakaan panduan perdagangan dan instrumen, dan kalender acara (yang dapat ditambahkan ke kalender pribadi Anda) Yang akan mengajarkan cara membaca penawaran dan perdagangan barang. Video on-demand yang serba cepat tersedia dengan biaya tertentu. Min deposit 2.000 Broker forex sejak tahun 1999, thinkorswim adalah platform forex TD Ameritrade. Pendidikan investor mencakup kurikulum pembelajaran pemula dengan video dan kursus untuk menciptakan jalur belajar Anda sendiri. Thinkorswim Learning Center terdiri dari tutorial, video, majalah thinkMoney, thinkManual, dan Quiz Central. Akun Praktik: 50.000 selama 30 hari Deposit Minimum: 2.000 Pialang forex sejak tahun 1982, tutorial Etrade FX dapat ditemukan dengan memasukkan pelatihan forex di kotak pencarian sumber pendidikan. Seminar web, video, dan artikel dalam kategori dasar dirancang khusus untuk pemula. Akun Praktik: NA Deposit Minimum: 5.000 (3.000 untuk perorangan berusia antara 21 26) Pialang forex sejak tahun 2002, pusat pendidikan Tempat Perdagangan Finansial mencakup peralatan, widget, video, webinar, demo, aplikasi, dan kursus pendidikan investor. Akun Praktik: Setelah akun perdagangan disetujui dan didanai Minimal Deposito: 10.000 Pialang forex sejak 1977, Interactive Brokers Traders University menawarkan glossary, webinars (live atau recorded), forum diskusi yang tidak terpantau untuk menjalin hubungan dengan pedagang, aplikasi, widget, Lembar contekan, dan panduan pengguna. Ingatlah bahwa perdagangan valuta asing, juga dikenal sebagai forex dan perdagangan FX, berisiko tinggi dan mungkin bukan pilihan terbaik bagi individu yang baru mengenal perdagangan saham dan perdagangan hari.
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