odd-lotter

noun odd-lot·ter \ ˈädˈlätə(r) \

Definition of odd-lotter

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

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Origin and Etymology of odd-lotter

odd lot + 2-er


Financial Definition of ODD-LOTTER

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.


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