odd-lot·​ter | \ ˈädˈlätə(r)\
plural -s

Definition of odd-lotter

: a speculator or an investor who habitually buys and sells stock in less than round lots

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History and Etymology for odd-lotter

odd lot + -er entry 2

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More Definitions for odd-lotter



Financial Definition of odd-lotter

What It Is

An odd-lotter buys securities in odd lots. An odd lot is a group of shares that is not a multiple of 100 (100 shares is called a round lot).

How It Works

For example, let's assume John wants to buy a share of Disney stock for each year of his son's life as a birthday present for his 12th birthday. John calls his broker with a buy order for 12 shares of Disney stock, which is an odd lot. This makes John an odd-lotter.

Why It Matters

Typically, individual investors are the most likely to be odd-lotters. Because it takes much more work to fill an order for an odd lot, John's broker may charge a higher commission. The broker may have to purchase a round lot (100 shares) and then break the shares up to provide John with his 12 shares.

Source: Investing Answers

Comments on odd-lotter

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one from the Upper Peninsula of Michigan

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