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For convertibles, level at which a convertible security's market price equals the aggregate value of the underlying common stock; value/worth of the convertible bond considered only as an equity instrument (Conversion ratio times common price). See: Conversion value. For international parity, U.S.$ price of a foreign stock's last sale in an overseas market (Local currency stock price times forex rate times ADR ratio). For listed parity, condition whereby no party has floor priority, and matching thus occurs. For options parity, dollar amount by which an option is in the money. See: Intrinsic value.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


1. The state of being equal. Parity is used in a variety of contexts. For example, parity is achieved when the value of a convertible security equals the value of the underlying common stock.

2. A situation in which the total of the premium and the strike price of an option are equal to the market value of the underlying asset. For example, if the premium is $5 per share and the strike is $10, then parity is achieved when the market value of the underlying is $15 per share. See also: At-the-money.

3. See: Par.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


The state of an option when its premium plus the strike price is equal to the market price of the underlying stock. If stock is selling at $17 per share, an option to buy the stock at $15 would be selling at parity if its premium is $2. See also conversion parity.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
A binary variable was included that indicated whether a woman had lost one or more children from prior parities at least 12 months before the birth of the last-born child.
Women who have more sons than daughters at earlier parities will stop childbearing and thus have smaller families.
The third step involves the estimation of the mean age of women at different parities ([MW.sup.n.sub.15-49]) from adjusted proportions [PW.sup.n.sub.i], given in Table 4: Among the women reported to be ,the age group 15-19, the adjusted proportion of those with 'zero' is [PW.sup.0.sub.15-19].
The estimates of mean ages at different parities for ever married women and for currently married women, obtained by following the procedures described above, are given in Table 5.
During gestation, the maternal BW of sows should gain 25 kg per parity over three or four parities [7].
Gestation energy and reproduction in sows over four parities. Can J Anim Sci 1990; 70:493-506.
To ensure an adequate number of cases at each parity, we combined parities of 3 and higher in the multivariate analysis.
Across all parities, the desire to have another child generally declined as the number of sons increased.
These breed differences indicated that purebred Y sows produced lower number of piglets born and weaned, and lighter piglets at birth in the first parity (NBA1, NPW1, LTBW1) and for the sums from the second to last parities (NBA2+, NPW2+, LTBW2+).
Thus, heterosis of the litter increased the number of piglets and decreased litter weight in the first parity and for the sums of the second to last parities, but it had no significant effect on number of piglets at weaning in the first parity.
There was a trend of increasing prevalence at later parities, which was consistent with the results reported by Vosman et al.
Total piglets born alive over 6 parities were calculated with consideration of sow retention rate by summing the number piglets produced for all gilts that were initially artificially inseminated (Patterson et al., 2010).