Certificates giving the holder the right to purchase
securities at a stipulated price within a specified time limit. Sometimes a
warrant is offered with securities as an inducement to purchase.
Wash Sale
Purchase and sale of a security either simultaneously or
within a short period of time, often in order to recognize a tax loss
without altering one's position.
When Issued
A short form of "when, as and if issued." Term
indicates a conditional transaction in a security authorized for issuance
but not as yet actually issued. All "when issued" transactions
are on an "if" basis, to be settled if and when the actual
security is issued and the exchange or NASD rules the transactions are to
be settled.