Waiting period
Time during which the SEC studies a firm’s registration statement. During this time the firm may distribute a preliminary prospectus.
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Tag Archive for 'V Glossary'
Voting rights
The right to vote on matters that are put to a vote of security holders. For example the right to vote for directors.
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Volume
This is the daily number of shares of a security that change hands between a buyer and a seller.
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Volatility risk
The risk in the value of options portfolios due to the unpredictable changes in the volatility of the underlying asset.
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Volatility
A measure of risk based on the standard deviation of investment fund performance over 3 years. Scale is 1-9; higher rating indicates higher risk. Also, the standard deviation of changes in the logarithm of an asset price, expressed as a yearly rate. Also, volatility is a variable that appears in option pricing formulas. In the option pricing formula, it denotes the volatility of the underlying asset return from now to the expiration of the option.
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Visible supply
New muni bond issues scheduled to come to market within the next 30 days.
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Virtual currency option
A new option contract introduced by the PHLX in 1994 that is settled in US$ rather than in the underlying currency. These options are also called 3-Ds (dollar denominated delivery).
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Vertical spread
Simultaneous purchase and sale of two options that differ only in their exercise price. See: horizontal spread.
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Vertical merger
A merger in which one firm acquires another firm that is in the same industry but at another stage in the production cycle. For example, the firm being acquired serves as a supplier to the firm doing the acquiring.
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Vertical analysis
The process of dividing each expense item in the income statement of a given year by net sales to identify expense items that rise faster or slower than a change in sales.
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