An option contract that gives its holder the right (but not the obligation) to purchase a specified number of shares of the underlying stock at the given strike price, on or before the expiration date of the contract.
Term of the Minute
- AON (All or None Order)
A limited price order that is to be executed in its entirety or not at all (no partial transaction). AON orders are not shown on the specialist’s book because they cannot be traded in pieces. Therefore, they will not show on the Bid or Ask.