Odd Lot (redirected from Broken Lot)

Odd lot

A trading order for less than 100 shares of stock. Compare round lot.

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Odd Lot

A set of less than 100 shares. Most securities are traded in sets of 100, which are called round lots. An odd lot order may be difficult to fill because, for example, a broker trying to buy 36 shares may have a hard time finding another broker selling 36 shares or one selling 100 shares who is willing to partially fill the order with those 36. See also: Odd-Lotter.

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odd lot

A unit of trading in securities that is made up of fewer than 100 shares of stock or $25,000 face amount of bonds. Also called lot. Compare round lot. See also effective sale, on-the-quotation order.

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Odd lot. The purchase or sale of securities in quantities of fewer than the standard trading lot -- 100 shares of stock or $1,000 worth of bonds -- is considered an odd lot.

At one time, trading an odd lot might have cost you a slightly higher commission, but in the electronic trading environment that's generally no longer the case.