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pit
(redirected from preauricular pit)

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Pit
A specific area of the trading floor that is designated for the trading of an individual futures or options contract.

Notes:
You've probably seen pictures of traders wildly thrashing their arms and yelling orders in the trading pit. Although it may look like a poorly coordinated Village People concert, there is actual trading going on.

See also: Open Outcry, Rings
Pit
A specific area of the trading floor that is designed for the trading of commodities, individual futures, or option contracts.
pit
A location on a commodities exchange trading floor where the futures of a particular commodity are traded. Also called ring.
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