Odd lot A trading order for less than 100 shares of stock. Compare round lot.
Offer Indicates a willingness to sell at a given price.
Offset Elimination of a current long or short position by making an opposite transaction. An account carried by one futures commission merchant with another futures commission merchant in which the transactions of two or more persons are combined and carried in the name of the originating broker, rather than designated separately. Open-end fund Also called a mutual fund, an investment company that stands ready to sell new shares to the public and to redeem its outstanding shares on demand at a price equal to an appropriate share of the value of its portfolio, which is computed daily at the close of the market. The total number of futures contracts traded in a given commodity that have not yet been liquidated either by an offsetting futures transaction or by delivery. The method of trading used at futures exchanges, typically involving calling out the specific details of a buy or sell order, so that the information is available to all traders.