pit

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Pit

A specific area of the trading floor that is designed for the trading of commodities, individual futures, or option contracts.

Ring

A place on an exchange assigned for the trading of certain commodities, futures, or options. It is also called a pit or a trading pit.

pit

A location on a commodities exchange trading floor where the futures of a particular commodity are traded. Also called ring.
References in periodicals archive ?
Dressing rooms all over the country are reeking of cheap deodorant spray that stings your arm pits a bit like rubbing TCP on a blister at pre-season
Sub-officer Lloyd Bishop, of Hampshire Fire Service, said: "By the time we got there he was up to his arm pits, sinking deeper and starting to suffer from hypothermia.
The guy doing the monkey impression at Chelsea - allegedly, to be safe, after all he could have been merely scratching both arm pits at the same time, as you do - has been arrested, and then there is the monkey allegation against ref Mark Clattenburg, which has police and FA crawling all over Stamford Bridge.
She was like 'get in the shower, shave your legs, shave your arm pits.
Instead, they offer changing booths equipped with baby wipes for freshening the old arm pits.
The latest scare story claims that women will die if they shave their arm pits.
He was found dead by his landlady with the wires wrapped round his neck, taped under his arm pits and meeting on his chest.
A spokesman said: "She has major skin tears and flesh wounds to her legs, thighs, buttocks and arm pits.
Having walked around the one maternity clothes rack over 40 times, that horrific dungaree type marquee is looking awfully tempting, as are the jogging pants that appear to come up just under your arm pits.
She has small blisters in her arm pits, legs and tummy.