A lot of securities or commodities that is smaller or larger than what is considered a normal trading unit. An odd lot is typically traded at a price that includes a differential attributable to the size of the lot (e.g., a dealer would typically bid lower for an odd lot than for a larger block).
A purchase or sale of fewer than 100 shares of stock. See round lot. Option - A security t gives the owner the right, but not the obligation, to buy (in the case of a call option) or sell (in the case of a put option) a specific amount of a security or index, at a specified price during a specified period of time.
Purchase or sale of securities in any amount less than 100 shares. An investor buying or selling an odd lot often pays a higher commission rate than someone making a round lot trade. This odd-lot differential varies between brokers.
Trading securities in share amounts of either less than 100 or an amount that is not a multiple of 100. Trading in odd lots used to incur higher transaction fees from full-service brokerages. Today, with online, computerized discount trading, buying and selling stock in odd lots no longer involves higher transaction costs.
A number of shares that are less than the market lot are known as odd lots. Under the scrip based delivery system, these shares are normally traded at a discount to the prevailing price for the marketable lot.
A number of shares equalling less than a board lot, the regular trading unit decided upon by the particular stock exchange. Also, an amount less than the par value of one trading unit on the over-the-counter market.
Any number of shares traded that is less than its normal trading unit (round lot). Typically, an odd lot is 1 to 99 shares with a round lot being multiples of 100 shares. However, certain inactive stocks have round lots of 10 shares, with odd lots being 1 to 9 shares. See: Normal Trading Unit; Odd Lot Differential; Odd Lot Theory; Round Lot