Now merged with the American Stock Exchange, one of the two major stock exchanges in the United States. Unlike the New York Stock Exchange, the Nasdaq is not a physical institution, but a purely computerized exchange of securities quotes. New York Stock Exchange. Located on Wall Street in New York City, the New York Stock Exchange is America's oldest and premier securities exchange where market makers and specialists gather to trade securities. The right or obligation to buy an underlying security for a certain price at a later date.
Options exist for stocks, indexes, and futures.
An option to buy the underlying security is known as a call . An option to sell the underlying security is known as a put . Granted by a broker to an investor which entitles the individual to buy and sell options. In other words, all Nasdaq stocks are OTC stocks. The smallest companies are traded on what's known as the OTC Bulletin Board.