A put or call option that is traded on a national options exchange. Listed options have fixed striking prices and expiration dates. In contrast, over-the-counter options usually have non-standard or negotiated terms.
See Also:
Option: A contract that gives the owner the right, but not the obligation, to buy or sell a particular asset (the underlying stock) at a fixed price (the strike price) for a specific period of time (until expiration) . The contract also obligates the writer to meet the terms of delivery if the contract right is exercised by the owner.
