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Glossary
ABCDEGIOPRSTV
A
  • Assignment
  • At-the-money (ATM)
B
  • Break-even
C
  • Covered call
D
  • Days to expiry (DTE)
  • Delta (Δ)
E
  • Exercise
  • Extrinsic value
G
  • Gamma (Γ)
I
  • Implied volatility (IV)
  • In-the-money (ITM)
  • Intrinsic value
  • IV rank
O
  • Open interest
  • Out-of-the-money (OTM)
P
  • Premium
R
  • Rho (ρ)
S
  • Strike price
T
  • Theta (Θ)
V
  • Vega (ν)
  • Volume
liquidity

Volume

The number of contracts traded today at a given strike and expiry.

Volume resets each trading day. High volume on a specific strike often flags institutional flow or hedging around an event. Volume and open interest together paint a full liquidity picture.

Related

Open interest

Total number of outstanding contracts at a given strike and expiry.

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