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Naked option |
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See Uncovered option. |
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Near Date |
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A term used to describe one side of a swap transaction. The near date is
always the contract with the shortest maturity or expiration date.
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Net asset value |
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The value of all the holdings of a mutual fund, less the fund's liabilities.
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Net asset value per share (NAVPS) |
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Net asset value of a mutual fund divided by the number of shares or units
outstanding. This represents the base value of a share of unit of a fund.
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Net change |
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The difference between the last traded price and the previous day's closing
price. |
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Neutral |
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An adjective describing an opinion that is neither bearish or bullish. Neutral
options strategies are generally designed to perform best if there is little
or no net change in the price of the underlying security. |
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New Issue |
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See Initial Public Offering (IPO) |
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90/10 strategy |
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A conservative option strategy in which an investor buys treasury bills
(or other liquid assets) with 90 percent of his or her funds, and buys call
options (or put options or a mixture of both) with the balance. The proportions
of this strategy are subject to change based on prevailing interest rates.
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No-load fund |
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A mutual fund that does not charge a fee for buying or selling its shares.
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Non-equity option |
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Any option that does not have common stock as the underlying asset. Non-equity
options include options on futures, indexes, foreign currencies, bonds,
etc. |
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Note |
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An unsecured promise to pay. |
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Notional value |
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The market value of a financial instrument contract. |
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NSC platform |
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The acronym NSC stands for "Nouveau Système de Cotation," an electronic
trading platform used by Bourse de Montréal Inc. as well as by all other
GLOBEX® Alliance partners. The platform hosts the Bourse's electronic order
book where all orders submitted for trading on Bourse-traded derivative
contracts are registered and matched. |
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