Ask Price: The price at which a seller is offering to sell an option or stock.

Bid Price: The price at which a buyer is willing to buy an option or a stock.

Closing Price: The final price of a security at which a transaction was made.

Striking Price Interval: The distance between striking prices on a particular underlying security. Normally, the interval is 2.50 points for stocks under $25, 5 points for stocks selling over $25 per share, and 10 points (or greater) is acceptable for stocks over $200 per share. There are, however, exceptions to this general guideline.

Strike Price Interval: The normal price differential between option strike prices. Equity options generally have $2.50 strike price intervals (if the underlying stock price is below $25), $5.00 intervals (from $25 to $200), and $10 intervals (above $200). LEAPS generally start with one at-the-money, one in-the-money, and one out-of-the-money strike price. The latter two are usually set 20%-25% away from the former.

Settlement Price: The official price at the end of a trading session. This price is established by The Options Clearing Corporation and is used to determine changes in account equity, margin requirements, and for other purposes.

Quoted Price: Refers to the price at which the last sale and purchase of a particular security or commodity took place.

Quoted Price: Refers to the price at which the last sale and purchase of a particular security or commodity took place.

Quoted Price: Refers to the price at which the last sale and purchase of a particular security or commodity took place.

Opening Price: The range of prices at which the first bids and offers were made or first transactions were completed.

Offer/Offer Price: In the options business this means the same as ask / ask price, or the price at which a seller is offering to sell an option or a stock.

Market Price: The most recent price at which a security transaction took place.

Exercise Price: The price at which the owner of an option can purchase (call) or sell (put) the underlying stock. In other words, it is the price at which the call holder may exercise to buy the underlying security or the put holder may exercise to sell the underlying security. For listed options, the exercise price is the same as the Striking Price.

Consumer Price Index - CPI: A measure of price changes in consumer goods and services. This index is used to identify periods of economic inflation or deflation.