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Investments Dictionary

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On the run
Recently issued bond, selling at or near par value.
On-the-run Yield Curve
Relationship between yield to maturity and time to maturity for newly issued bonds selling at par.
Open Interest
The number of futures contracts outstanding.
Open-end (mutual) Fund
A fund that issues or redeems its own shares at their net asset value (NAV).
Optimal Risky Portfolio
An investor's best combination of risky assets to be mixed with safe assets to form the complete portfolio.
Option Elasticity
The percentage increase in an option's value given a 1% change in the value of the underlying security.
Original Issue Discount Bond
A bond issued with a low coupon rate that sells at a discount from par value.
Out of the Money
Out of the money describes an option where exercise would not be profitable. In the money describes an option where exercise would produce profits.
Over-the-counter Market
An informal network of brokers and dealers who negotiate sales of securities (not a formal exchange).

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