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Retirekit Glossary S

S


Sale Availability Date
According to your company’s stock plan rules, the date on which your shares may be available for sale.

Sale Proceeds
The total value of an exercise order before any costs, taxes, fees, and commissions are subtracted.

Sales Charge
Fee on the purchase of new shares of a mutual fund. A sales charge is similar to paying a premium for a security in that the customer must pay a higher offering price. Sometimes called a load.

Salomon Smith Barney 3-Month T-Bill Index
Represents the average of T-bill rates for each of the prior three months, adjusted to a bond equivalent basis.

Same Fund Family (Exchange)
All funds owned by one company are considered to be in the same fund family. This means that all Fidelity funds are in the same family, all Janus funds are in the same family, etc.

When you exchange funds, you are selling shares of a fund you own and using the proceeds to buy shares in another fund in the same fund family.
For example, if you sold shares of the Fidelity Asset Manager fund, you could use the proceeds to buy shares in any other Fidelity fund. However, you could not use the proceeds to buy shares in a Janus fund, a Vanguard fund, etc. To perform this sort of transaction, you would have to complete a cross family trade.

S&P 500 Index
The S&P 500® Index is a registered service mark of The McGraw-Hill Companies, Inc., and has been licensed for use by Fidelity Distributors Corporation and its affiliates. It is an unmanaged market capitalization weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.

S&P Rating
A bond rating system provided by Standard & Poor’s (S&P) to rate the quality of bonds based on the rating agency’s assessment of the quality of the bonds (e.g., AAA is best quality, A- is a lower quality than AAA, etc.). A rating of BBB- is the lowest S&P credit rating that is still classified as investment grade.

In the S&P Rating field on some search results screens fixed income secondary market offerings (e.g., bond), this field displays the rating or NR, not rated, if Standard and Poor’s Corporation has not rated the security.
S&P is a registered service mark of The McGraw-Hill Companies, Inc.

S&P Risk Ranking
A proprietary relative risk ranking from Standard & Poor’s (S&P) that ranks option trades from 1 Key (High Relative Risk) to 5 Keys (Lowest Relative Risk).

For covered calls, this ranking system uses a number of technical and fundamental indicators including stock beta, implied volatility, assigned return percent, percent out-of-the-money, S&P STARS rankings, and moving averages to assess the relative risk on each trade.
For calendar spreads, the ranking system uses indicators including volatility, percent out of the money, and S&P stock ranking to assess the risk for a trade. Calendar spread trades will typically show a lower Key risk ranking (they are riskier) and higher potential return than covered call trades on the same stock.
Details of the specific STARS rankings can be found in the glossary of any S&P Options Report PDF.
S&P is a registered service mark of The McGraw-Hill Companies, Inc.

S&P STARS Rankings
Standard & Poor’s (S&P) analysis of an equity’s investment quality and growth potential. The ranking is stated on a STAR scale, 5 STARS being a recommendation meaning “Strong Buy” and 1 STAR meaning “Strong Sell”.

S&P is a registered service mark of The McGraw-Hill Companies, Inc.

S&P Top Rated
Specific options trading strategies selected and published for investors each trading day by Standard & Poor’s (S&P) for their profit potential relative to their risk, as assessed by S&P.


  • Power Picks: In the context of selecting options strategies, these are covered calls and calendar spreads identified in The S&P Options Reports that relate to underlying stocks included in the S&P Power Picks selections, a list of 40 stocks selected annually from across the 10 major sectors, based on S&P’s fundamentals analysis.

  • Best 10: Covered calls and calendar spreads selected daily by analysts at S&P. These are based on options related to underlying stocks with a minimum S&P Key relative risk ranking of 3 Keys.


S&P is a registered service mark of The McGraw-Hill Companies, Inc.

Search For
The type of security (e.g., stock, mutual fund) for which you want to lookup a symbol.

Search Inventory
An option that allows you to search all of Fidelity’s fixed-income offerings (e.g., bonds) including new issue offerings (e.g., Treasury Auctions, Certificates of Deposit).

Search Value
The text by which you want to search and lookup a symbol for a security. For example, if you specified a search by security name, you would type in all or the first part of the security’s name (e.g., Microsoft, Compaq).

Seasoned Issues
This refers to stocks that have a been traded for a period of time and over that period of time have shown investors that they are quality stocks and so experience steady trade volumes in the stock markets.

2nd Previous Factor
The factor that is two months back from current factor. See Factor for more information.

2nd Previous Factor Effective Date
The effective date for 2nd Previous Factor.

Secondary Market Offerings
The public sale of previously issued securities.

Secondary Order
The order that goes to the marketplace upon the execution of the primary order in a conditional trade, such as a One Triggers the Other (OTO) trade.

Secondary Sort by Cost
For specific share trades, after you select your primary sorting option for your tax lots, you can also elect to sort your tax lots by the cost basis information tracked by Fidelity.

Section 423 Plan
Refers is to a type of Employee Stock Purchase Plan that offers tax advantage to its participants.

Section 423 Plans are often referred to as qualified employee stock purchase plans and companies must design these plans in accordance with the requirements of Code Section 423. Like Incentive Stock Option plans, a Section 423 Plan offers preferential tax treatment to employees if certain rules are satisfied.

Section 1202 Capital Gains
Refers to a gain on the sale or exchange of qualified small business stock that may be eligible for a 50% exclusion.

Sector
In the context of Corporate bonds, sector refers to the area of the economy from which the bond issuer derives its main sources of revenues, such as financial or industrial. Within the sectors are industry groups such as chemical or petroleum. Below is a list of sectors and industry groups that can be searched from the Secondary Market Search page for Corporate Bonds.

Industries are grouped according to Standard Industrial Classification (SIC) code ranges. Fidelity provides the sector information from third-party sources and makes no guarantee as to its accuracy or completeness.

  Sector Industry Group SIC Code Range
Auto 3710-3719
Industrial Business Machines 3577, 7370-7379
Chemical 2800-2899
Paper 2600-2699
Petroleum 2910-2919, 1311
Steel 3300-3399
Tobacco 2100-2199
Wood 2400-2499
Other Industrials
Financial Finance (non-bank) 6100-6199, 6300-6399, 6211
Finance (bank) 6000-6059, 6712
Utilities Electric Services 4911
Gas Services 4920-4929
Electric, Gas, & Other 4930-4939
Telephones 4810-4813
Transportation Airlines 4510-4519
Railroads 4000-4099
Maritime 4410-4469

The sector and industry groups available for searching remain constant from day to day, although the inventory under them will change based on market conditions. Choosing a certain sector or industry group is no guarantee or a claim that Fidelity will have bonds available from the chosen sector/group for purchase at a given point in time. Similarly, there may be cases when certain bonds are not classified, in which case searching by All Sectors will yield the most results.

Sector Funds
Sector funds invest in the stocks of one specific sector of the economy, such as health care, chemicals, or retailing. These funds tend to be more volatile than funds holding a diversified portfolio of stocks in many industries.

Sector risk
The risk that all of the securities in an entire sector will be affected by economic or other factors which pertain to that sector more specifically than other sectors.

Security Description
The full name of a security. If this is your Core (cash) account, the description usually includes the issuer or the word Cash.

Security Name
The full name of a security (e.g., International Business Machines for the trading symbol IBM).

Security Type
The type of security (e.g., stock, mutual fund) for which you want to perform an action (e.g., place an order, calculate commission).

SEDOL
Stock Exchange Daily Official List – An identification code, consisting of seven alphanumeric characters, that is assigned to all securities trading on the London Stock Exchange and on other smaller exchanges in the U.K.

Sell
This refers to the action of selling a security. This also refers to an analyst’s recommendation to sell a security.

Sell Call to Open
Selling a call option.

Sell Covered Call
Selling an option contract backed by the shares underlying the option.

Sell Side
In a multi-leg options transaction (or a combined stock and option strategy), this is the option transaction that constitutes your sale. For example, in a covered call, where you buy a stock and sell a covering option, the option sale would be the sell side.

Sell Short
Selling a security you do not own. Also referred to as short sale.

The shares are loaned from a broker or another margin account, and the proceeds of the sale secure the loan.
Short selling allows investors to take advantage of an anticipated decline in the price of a stock.


  • If the seller buys the stock back at a lower price than the original price, the seller makes a profit

  • If the seller buys the stock back at a higher price, the seller incurs a loss


Short sale orders are good for the day only.
When you’re placing an order to sell short on the Trade Stocks page, the number of shortable shares appears next to Quantity field once you’ve entered a valid symbol in the Symbol field. This number is based on a specific point in time; shares may not be available to sell short when you enter your order. If insufficient shares are available, you’ll receive an error message. If your order proceeds through verification and confirmation, shares have been tagged to cover an executed short sell order.
Please note the following about orders to sell short:

  • You must have a Margin Agreement on file with Fidelity to place a sell short order.

  • The greatest risk associated with a Short Sale is the buy-in risk. Once borrowed, the shares are subject to buy-in at any time.

  • Fidelity executes a trade to buy back the shares and cover the short position.

  • A short sale trade is the sole liability of the customer who placed the order for the trade. The customer who placed the order for the short sale is responsible for the buy-in price.

Sell Symbol
The symbol for an option in a trade order.

Note: Precede the symbol with a dash (-).

Sell to Close
Selling an option you had previously bought.

Sell to Open
Selling an option contract.

Settled Shares
Shares you bought using cash or on margin or sold and have delivered the securities for sale.

Settlement
This refers to the point at which the securities and cash are exchanged.

Settlement Date
The date on which a trade settles, the date on which securities must be paid for (purchase) or securities must be delivered (sale).

Settlement Pending
Settlement Pending indicates that your Non-Fidelity Mutual Fund order has been placed with the fund company and Fidelity is waiting settlement. In some cases, settlement may take up to two days from the time your order was entered. Regardless of when settlement occurs, the price you will receive will be the next available price after you entered your order.

7-Day Yield
An annualized historical yield calculated on the date shown based on the preceding seven days’ level of income earned by the fund.

701(g)(3)
Rule permitting the sale of unregistered securities in the open market, provided the shares were issued under a company benefit plan or compensation agreement prior to a company going public.

An owner of these securities who is not considered an affiliate of the issuer may sell shares under Rule 701(g)(3) without having to satisfy Rule 144 requirements.
The shares cannot be sold until 90 days after the company goes public. However, certain 701 paperwork needs to be completed by the stock owner in order to have the restricted legend removed and to release proceeds from the sale. Affiliates must satisfy all of the requirements of Rule 144, other than the one-year holding period.

Share Amount
Amount of shares the bond or note is convertible into.

Share Price
The price you anticipate paying for a share of a security or for a trade order for which you want to calculate commission.

Share Proceeds
The number of shares you hold after an order to exercise and hold stock options executes and after the exercise cost, commissions, fees, and any taxes that are due as a result of the order have been deducted.

Share Quantity
The number of shares in a selected or specified lot. For a sell request action, this is the number of shares you have selected to sell from a tax lot. When updating cost basis, this is the number of shares in a selected lot for which you can provide basis. Learn more about Quantity.

Shares
This is a representation of ownership in a company or mutual fund through shares an investment purchased or stock options that were exercised. In account history, this is the number of shares that were bought or sold when a transaction executed.

Shares Available
For specific share trades, if you are using the cost basis information that Fidelity is tracking, we will provide a list of all of the tax lots for the position trades. Each tax lot will have an available quantity that may be selected; this quantity is displayed in the Shares Available column.

Shares Deferred
For stock option plans, the total number of shares you have elected to defer from the current offering period.

Shares Deposited
The number of shares deposited into your account as the result of a restricted stock award (RSA) you’ve accepted vesting.

Shares Held In
Indicates how shares that you wish to transfer are held in the From account (Cash, Margin, or Shares).

Shares Outstanding
This is the number of shares of common stock that are currently owned by investors.

Shares Purchased
This is the total number of shares that are purchased after an order to exercise and hold stock options executes. In account history, this is the number of shares that were bought or sold when a transaction executed.

Shares Specified
For specific share trades, if you are using the cost basis information that Fidelity is tracking, enter the quantity of shares from each tax lot you wish to specify in the Shares Specified column.

Shares Swapped
For stock option plans, the total number of shares you have elected to swap to cover option cost and/or option withholding amounts.

Shares/Units Achieved Pending Payment
The number of shares/units pending payment that you have achieved as a result of meeting your performance criteria.

Shares/Units Paid
The number of shares/units paid.

Shares/Units Pending Achievement
The potential number of target shares/units you may achieve if you meet your performance criteria at the end of your performance period.

Shelf Registered Stock (S-3 or S-8)
Is registered under a “shelf registration statement” with the SEC. Registration is limited to the amount of shares expected to be sold within a reasonable period of time after the initial date of registration. Shelf registered securities will be covered by a prospectus which must be delivered at the time of the sale. Issuer must be current on all SEC filings to keep shelf registration current.

Shortable Shares
The number of shares currently available to sell short for a specific security. This number is based on a specific point in time and may not result in shares being available to sell short when your order is entered. If shares are not available to sell short when your order is entered, you will receive an error message. If your order proceeds through verification and confirmation and to the Order Details page, shares have been tagged to cover an executed short sell order.

Short Box Spread
An options trading arbitrage strategy in which two vertical spreads, a bull call spread and a bear put spread, are sold together to take advantage of overpriced contracts. The profit is made in the premium difference between the spreads.

Rules: The strike prices of the long call and the short put must be equal. The strike prices of the short call and the long put must be equal. The strike price of the long call and the short put must be greater than the strike price of the short call and the long put.
Example:      Long 10 XYZ 125 Call
                    Short 10 XYZ 120 Call
                    Long 10 XYZ 120 Put
                    Short 10 XYZ 125 Put

Short Butterfly Spread
An options strategy most profitable when the underlying will be volatile, it is composed of four options contracts at three strike prices for the same class (call or put) on the same expiration date: one sold in-the-money, two bought at-the-money, and one sold out-of-the-money. Loss and profit are both limited in this strategy, and maximum profit is achieved when the underlying price changes significantly, past either the highest or lowest strike price agreed to.

Rules: The quantity of the short calls/puts must equal the quantity of the long calls/puts. The intervals between the strike prices of the three positions must be equal and in ascending order.
Example:      Short 10 XYZ 120 Call
                    Long 20 XYZ 125 Call
                    Short 10 XYZ 130 Call

Short Calendar Iron Butterfly Spread
An options strategy comprised of a entering a long calendar spread, a long butterfly spread and a short box spread.

Short Calendar Iron Condor Spread
An options strategy comprised of a entering a long calendar spread, two long butterfly spreads and a short box spread.

Short Credit
The amount of money held aside to close short positions in an account. This value is compared against the market value of securities held short, and is marked to market weekly. If the market value of the securities held short increases (moves against you), it will cost more to close short positions, and money will be journaled (transferred) from margin and increase the Short Credit balance. If the market value of securities Held Short decreases (moves in your favor), it will cost less to close short positions and money will be journaled (transferred) out of the Short Credit to margin. When a short position was covered and there were insufficient funds held as a short credit to cover the position, a short debit occurs instead of a short credit. This debit would be cleared with the mark to market following settlement. Back

Short Debit
When a short position was covered and there were insufficient funds held as a short credit to cover the position, a short debit occurs. This debit would be cleared with the mark to market following settlement.

Short Exempt
An order to sell short which is exempt from short-sale rules. In September 2004, the Securities and Exchange Commission (SEC) Regulation SHO replaced the Short Sale Rule, which stated that you can make short sales only in a rising market (in which the last sale price for the security is higher than the preceding sale price, or is unchanged after an increase in sale price). Under Regulation SHO, short sales are allowed on a minus tick for eligible securities.

Short Iron Butterfly Spread
An options trading strategy in which the customer sells an out-of-the-money put, buys an at-the-money put, buys an at-the-money call and sells an out-of-the-money call. The trade results in a net debit which is the maximum loss possible. This will occur if the underlying price is unchanged at expiration. The strategy is most profitable if the underlying price changes significantly, past either the highest or lowest strike price agreed to.

Rules: The quantity of all contracts must be equal. The interval between the strike prices of the puts must equal the interval between the strike prices of the calls. The strike price of the short put must equal the strike price of the short call. The long put exercise price must be less than the short contracts. The long call exercise price must be greater than the short contracts.
Example:      Long 10 XYZ 120 Put
                    Short 10 XYZ 125 Put
                    Short 10 XYZ 125 Call
                    Long 10 XYZ 130 Call

Short Iron Condor Spread
An options strategy involving four strike prices that has both limited risk and limited profit potential. It is established by buying one put at the lowest strike, writing one put at the second strike, writing a call at the third strike, and buying another call at the fourth (highest) strike. Maximum profit is achieved when the underlying stock remains stable and all of the contracts expire worthless.

Rules: The quantity of all contracts must be equal. The interval between the strike prices of the puts must equal the interval between the strike prices of the calls. The interval between the strike prices of the short put and the short call does not need to equal the interval between the first and second legs or the interval between the third and fourth leg. Long put exercise price must be less than the short contracts. Long call exercise price must be greater than the short contracts.
Example:      Long 10 XYZ 120 Put
                    Short 10 XYZ 125 Put
                    Short 10 XYZ 135 Call
                    Long 10 XYZ 140 Call

Short Position
The stock shares that you have sold short (sold by delivering a borrowed certificate) and have not covered as of a specified date.

Short Sale
The sale of a security not owned by the seller.

The shares are loaned from a broker or another margin account, and the proceeds of the sale secure the loan.
Short selling allows investors to take advantage of an anticipated decline in the price of a stock.


  • If the seller buys the stock back at a lower price than the original price, the seller makes a profit

  • If the seller buys the stock back at a higher price, the seller incurs a loss


Short sale orders are good for the day only and may be reviewed by a Fidelity representative to determine the availability of shares. If the shares are not available, your order will be canceled. While the order is being reviewed, the order will remain in a Pending Open status.
Please note the following about orders to sell short:

  • You must have a Margin Agreement on file with Fidelity to place a short order.

  • If the shares are not available, Fidelity attempts to borrow them from other broker-dealers and, if necessary, from banks.

  • The greatest risk associated with a short sale is the buy-in risk. Once borrowed, the shares are subject to buy-in at any time.

  • A short sale trade is the sole liability of the customer who placed the order for the trade. In the event of a buy-in, Fidelity executes a trade to buy back the shares and cover the short position. The customer who placed the order for the short sale is responsible for the buy-in price.

Short-Sale Commission
Fidelity will charge a commission on both equity short sales and the buy to cover the equity short positions. Specific commissions charged will be based on the customer’s stock commission rate.

Short Sale Proceeds
The total amount received from a short sale transaction.

Short-Term Investment
An investment held for one year or less.

For variable annuity VIP sector funds, this is a fund for which you have held units for less than 60 days.

Short-Term %
For variable annuity VIP sector funds and on the VIP Sector Fund Detail screen, this is the percentage of the VIP sector fund shares you have held for less than 60 days.

Short-Term Shares
The number of shares that have been held less than the minimum holding period defined in a fund’s prospectus.

Short-term shares may be subject to redemption (short-term trading) fees.
N/A may display on the details page for a mutual fund position: for Fidelity funds, N/A means the fund does not have a redemption fee; for a Funds Network fund, N/A means the fund is a transaction fee fund and you have already paid the transaction fee. If you are unsure about what N/A means for your specific fund, please see the fund’s prospectus.

Short vs. Box
The short selling of an asset you hold an equivalent or greater long position in. This may be accomplished by trading an equity or buying or writing options.

Short-Term Trading Fee
A fee you pay when you redeem, or sell, your shares. Not all funds charge short-term trading fees.

Show All Events
This is an indicator used with price charts. This indicator will place:


  • S milestones on your chart showing when your focus company issued a stock split

  • E milestones on your chart showing when your focus company released their earnings per share to the market
    When a company has released earnings greater than its earnings for the same period one year ago, BigCharts will display an upward pointing triangle
    When the earnings are lower than the earnings for the same period one year ago, BigCharts will display a downward pointing triangle
    The pointing triangle feature is very helpful for viewing each company’s earnings trend from quarter to quarter
    Note: No milestones will appear if your chart’s primary security issued no earnings per share during the time period in question


  • D milestones on your chart showing when your focus company or mutual fund issued a stock dividend
    Note: No milestones will appear if your chart’s primary security issued no earnings per share during the time period in question.


Show Current Values
Select this option to display Intraday changes in your brokerage account positions and a quote and market value for each of your positions.

This link displays for the Brokerage Account Positions Summary and Cost Basis screens.

Show Dividends
This indicator will place D milestones on your chart showing when your focus company or mutual fund issued a dividend.

Note: No milestones will appear if your chart’s primary security issued no earnings per share during the time period in question.

Show Earnings
This indicator will place E milestones on your chart showing when your focus company released their earnings per share to the market.


  • When a company has released earnings greater than its earnings for the same period one year ago, BigCharts will display an upward pointing triangle

  • When the earnings are lower than the earnings for the same period one year ago, BigCharts will display a downward pointing triangle


The pointing triangle feature is very helpful for viewing each company’s earnings trend from quarter to quarter.
Note: No milestones will appear if your chart’s primary security issued no earnings per share during the time period in question.

Show Other Accounts
After you select this option on the Portfolio screen, authorized accounts, accounts you are authorized to access, but do not own, display in addition to the accounts you do own.

This option displays only on the Portfolio screen if you are authorized to access another person’s accounts and have not yet chosen to display them.

Show Splits
This indicator will display S milestones on your chart showing when your focus company issued a stock split.

Note: No milestones will appear if your chart’s primary security issued no stock splits during the time period in question.

Silver Pricing
Silver Level pricing offers significant savings off of the Bronze Level commission schedule. To qualify, a household (see Relationship Household) must meet any of the following criteria:


  • $50,000+ in assets

  • $25,000+ in assets and 36+ trades over the prior 12 months

  • No asset minimum and 72+ trades over the prior 12 months

Since Inception
Return calculation for the time period beginning when we added your account to the performance database and ended at the present date. Fidelity converted historical data through January 2003 in order to provide customers with multi-year and historical return information. If you account was opened prior to January 2003, the Since Inception date for performance reporting is January 31, 2003.

Single Tier
A round lot or odd lot price is not available to this product.

Sinking Fund Amount
The sinking fund amount refers to the amount of the issuance that will be redeemed as per the sinking fund provisions on or by a specified date. The amount displayed appears as dollars in thousands or as a percent of the amount outstanding, and is labeled accordingly.

Sinking Fund Date
The sinking fund date is the date by which a given amount of the bond issue must be redeemed by the issuer.

Sinking Fund Price
The sinking fund price is the price, corresponding to a certain date, at which a given part of the bond issue could be redeemed by the issuer. Note that the issuer may be able to meet its sinking fund commitments by purchasing the bonds on the open market at a price below the quoted price on the schedule.

Sinking Fund Protection
A sinking fund is a requirement included with certain bond issues, for part of the issue to be repaid on a regular basis before the stated maturity date of the bond. The issuer typically buys back a stated amount of the issue on a specified date—often having the flexibility to buy back from bond holders at the pre-specified price (usually par) or at the prevailing market price, whichever is cheaper.

Like a call feature, sinking fund payments might begin soon after the bond has been issued or they may be deferred for 10 or more years from the date of issue. Consult the sinking fund schedule for this information. Unlike a call feature, however, if an issue has a sinking fund provision, it is a requirement, not an option, for the issuer to buy back the increments of the issue as stated.
If you are considering the purchase of a bond with sinking fund features, be sure to consider (but don’t rely on), the fact that a portion of the bonds issued may be returned before the maturity date. For example, even if the issuer has a commitment to buy back 5% of a given issue on a certain date, there is no guarantee that every investor will have 5% of their investment redeemed. The issuer may either purchase the required amount from a small number of institutions or purchase them on the open market.
In some situations, the presence of a sinking fund could be regarded as a positive feature of a bond. It could be perceived as an additional solvency hurdle for the issuer because the issuer must find the necessary funds to return some of the debt issue’s principal before the stated maturity date of the bond. Yet for this very reason sinking funds are frequently found on long-dated, lower quality issues. The presence of a sinking fund is not an added guarantee of an investment. In extreme circumstances a bond may be falling in price and the issuer will be able to meet all of its sinking fund commitments by purchasing on the open market. The weaker an issuer becomes, the more likely the bond’s price is to fall and the more likely sinking fund commitments can be met by open market purchases.
Sinking Fund Protection refers to a bond that does not have a sinking fund as part of its structure. On the Search Secondary Offerings page, the search criterion for Sinking Fund Protection defaults to Yes, which excludes bonds with a sinking fund feature. Selecting All will include bonds with sinking funds in your search returns.

Sinking Fund Schedule
The sinking fund schedule shows the future dates at which sinking fund commitments come due. The schedule shows how much of the issue must be redeemed on or by the specified date. The specified price shows the price at which the issuer is committed to purchase the specified number of bonds from investors.

In many cases, issuers may also meet their sinking fund commitments by buying the bonds on the open market–typically if the prevailing price is lower than the sinking fund price specified. Thus, a sinking fund schedule is not a guarantee that an investor’s holdings in an issue will be redeemed in proportion to the amounts listed on the schedule.

Slow Stochastic
The stochastic oscillator compares where a security’s price closed relative to its price range over a given time period. As with moving average, the sensitivity increases with shorter time spans.

Two or more stochastics may be used with different time spans on a single chart to develop cross-over signals. This method is used to spot trend reversals with fairly good accuracy.
The stochastic indicator is plotted as two lines. They are the %D and the %K line. The stochastic is plotted on a chart with values ranging from 0 to 100. Readings above 80 are strong and indicate that price is closing near its high. Readings below 20 are strong and indicate that price is closing near its low.
Ordinarily, the %K line will change direction before the %D line. However, when the %D line changes direction prior to the %K line, a slow and steady reversal is usually indicated.
Ordinarily, the %K line will change direction before the %D line. However, when the %D line changes direction prior to the %K line, a slow and steady reversal is usually indicated.
Many times, when the %K or %D lines begin to flatten out, this is an indication that the trend will reverse during the next trading range.

SMA
Special Memorandum Account. When the margin equity in the account exceeds the federal “Reg T” requirement of 50%, the amount in excess of the requirement is referred to as the Special Memorandum Account (SMA). If the Reg T requirement is not met, a Fed call is issued against the account.

Small Cap
A class of assets where the holdings are in small cap stocks, that is stocks with a level of capitalization less than $500 million in market value. See also, Asset Class, International, Fixed Income, Mid Cap, and Large Cap.

For portfolio and account analysis, Individual stocks with a market capitalization of less than $1 billion in market value are classified as small cap. Mutual funds with a median market capitalization of at least $1 billion, as defined by Morningstar, are classified as small cap.

Small-Cap Stocks
An investment categorization based on the market capitalization of a company.

Smart Payment Program Election
Participation in the Smart Payment Program is voluntary, and shareholders must opt in to receive the estimated monthly payments shown.

Social Security Tax Withheld
For an executed order to exercise stock options, the total amount of social security tax withheld from the order’s proceeds. Your employer is required to report taxable income and remit the tax withholding amounts to the appropriate regulatory agencies.

Sold Call Month
In an S&P Options Report, this is the expiration month of the sold call option.

Sold Call Strike Price
In an S&P Options Report, this is the strike price of the sold call.

Sort By
When searching for bonds, you can sort by highest yield, lowest yield, or medium yield. For example, if you sort by lowest yield for the selected minimum credit rating of A, the lowest-yielding bonds within the A rating tier appear first in the search results.

Be aware that selecting highest yield or lowest yield does not necessarily return the highest or lowest yielding bonds for the rung, because the search tool first searches the central rung month to find bonds that meet your other selected criteria. Bonds from the central rung month appear at the top of the list of eligible bonds. If there are no bonds in the central rung month, the search tool searches the two months on either side of the central rung month for the highest- or lowest-yielding bonds available. Sorting by medium yield generates the same sort order as highest yield, except higher-yielding outliers are removed from consideration to moderate risk.
See also minimum rating.

Sort by Long-Term Shares
For specific share trade requests, choose this option to have Fidelity sort your shares with Long Term holding period (greater than one year) first.

Sort by Short-Term Shares
For specific share trade requests, choose this option to have Fidelity sort your shares with a short term holding period (one year or less) first.

Sort Direction
You can view results of the multi-leg option tools in ascending or descending order i.e.: high to low or low to high.

Source
For real-time, Extended Hours session (Premarket and After Hours session) quotes you get while participating in Fidelity’s Extended Hours sessions, the source is The ECN which is where the quote was obtained*.

* This is the best real-time quote for a stock eligible for trading on the ECN from the ECN in which Fidelity participates. Extended Hours quotes obtained from Fidelity.com will only reflect the prices available in the ECN.
For Premarket and After Hours session trade orders, the ask and bid price source is the ECN and Extended Hours Session displays as the source on trade order verification screens. The last trade price is either the standard market session or the Extended Hours session depending on the session during which the last trade for the security was executed.

Specific Shares
You can choose specific tax lot shares for stock and option orders. The ability to choose specific shares is available for eligible accounts and valid order actions. For stock orders, valid actions are Sell and Buy to Cover. For options orders, valid actions are Sell to Close and Buy to Close.

Please note:


  • If tax lot shares are not specified when an order is placed, the shares sold are the first shares of the security that you acquired in the account. This is known as the FIFO (first in, first out) accounting method.

  • If you specify tax lot shares and your order executes, the specified share information is printed on the trade confirmation you receive via U.S. mail or included in the confirmation you receive under Accounts & Trade > Statements*. This information also displays on the trade confirmation
    * Confirmations are delivered online after you sign up for the Electronic Confirmation Program.

  • Fidelity does not validate tax lot shares with a cost basis source of Customer and tax lots you manually enter on the Tax Lots Choose Specific Shares screen. Ultimately, it is your responsibility to maintain accurate tax lot records.
    For tax assistance, consult your tax advisor regarding your particular situation.

Specified Lot Detail
This is an option in Order Details for orders where you have specified tax lots shares to trade. Select this option to display the tax lots and number of shares from each lot that will be sold when the order executes.

The Specified Lot Detail option only displays in Order Details for orders where you specified tax lot shares to trade.

Specified Private Activity Bond Interest
Specified Private Activity Bond Interest is interest paid by private activity bonds issued to encourage private-sector investment in the development of certain facilities which serve various specified public purposes and exempt interest dividends paid by mutual funds that are attributable to such interest. Specified private activity bond interest is reported on IRS Form 1099-INT in your Tax Reporting Statement. The tax-exempt income reported by Fidelity includes amounts that are treated as specified private activity bond interest, if applicable. Specified private activity bond interest must be taken into account in computing the federal alternative minimum tax.

Split Factor
The multiplier used to adjust the number of shares you own when a stock splits.

Spread
A type of multi-leg options trade order that 1) is the simultaneous purchase and sale of either calls or puts, and 2) consists of options with different strike prices and/or expiration months. For example, 1) buy 1 IBM FEB 65 call, and 2) sell 1 IBM JAN 70 call. To place a spread order, you must have a Margin Agreement on file with Fidelity and be approved for option trading level 3 or higher.

Concerning stock option grants, this is the difference between a stock option’s grant price and the fair market value for the underlying stock. For example, if your grant price was $10 per share and the fair market value for the security was $30 per share, your spread would be $20 per share.

Spread to Treasuries
The difference in yield between the offered yield of the bond you are researching and the yield of its Treasury of similar maturity. The spread is measured in basis points (1/100 of a percentage point).

Standard and Poor’s Corporation
An organization that assigns independent rating opinions to help investors assess credit risk.

Standard and Poor’s 500 Index
The S&P 500 is a market capitalization-weighted index of common stocks.

Standard Deviation
A statistical measurement of the dispersion of a fund’s return over a specified time period. Fidelity calculates standard deviations by comparing a fund’s monthly returns to its average monthly return over a 36-month period, and then annualizes the number. Investors may examine historical standard deviation in conjunction with historical returns to decide whether a fund’s volatility would have been acceptable given the returns it would have produced. A higher standard deviation indicates a wider dispersion of past returns and thus greater historical volatility. Standard deviation does not indicate how the fund actually performed, but merely indicates the volatility of its returns over time.

Standard Market Session
Standard market session refers to the hours from 9:30 a.m. to 4:00 p.m. Eastern Time when U.S. markets and exchanges (e.g., Nasdaq and the New York Stock Exchange, respectively) are open for trading unless trading is halted.

Standard Session As Of
The date and time of the last trade of previous standard hours session.

Standard Session Quote
The quote for a security as of the date and time displayed from the standard market session, 9:30 a.m. to 4:00 p.m. Eastern Time unless trading is halted.

A Standard Session quote also displays in the Extended Hours quote pop-up window. When displayed in this window, the standard session quote for a stock is as of the market close.
You must have a Fidelity brokerage account to participate in Extended Hours sessions.

State
This can refer to:


  • for Fidelity Electronic Funds Transfer online setup, the two-character abbreviation for the state (e.g., MA for Massachusetts, NY for New York) where your driver’s license was issued
    Note that this information is only used to verify your account information and set up Electronic Funds Transfer for your Fidelity account. If you do not have a driver’s license, you can complete a form and send it to Fidelity to add Electronic Funds Transfer to your account. To access the form, select Get a Form under Before You Begin on the Electronic Funds Transfer Setup screen or use the Find-a-Form feature under the Customer Service tab.

  • When searching Fidelity’s municipal bond offerings inventory, you can specify the state where the bonds are issued to refine your search.

  • For bond ladders, you can search Fidelity’s municipal bond offerings inventory by selecting the state where the bonds are issued to refine your search. If you want all states, choose “include all states”.

Statements
Receive different types of account or mutual fund prospectus information online, including the ability to:


  • Receive online copies of tax forms and the mailing schedules for the paper copies

  • Sign up for and then receive your trade confirmations,

  • mutual fund prospectuses,

  • and periodic account statements online.

State Tax Withheld
After an order to exercise stock options executes, this is the total amount of state tax that is withheld from the order’s proceeds. Your employer is required to report taxable income and remit the tax withholding amounts to the appropriate regulatory agencies.

State Tax Withholding
Estimated state taxes that would be withheld on a stock award at vesting.

State tax withholding laws on IRA distributions vary by state. When requesting an IRA distribution, this field displays state tax withholding information and options that are applicable for your state of legal residence. For a Roth IRA, you have the option to elect not to have state tax withheld for all states except for those where state tax withholding does not apply.
Your state of legal residence is determined by the legal address you have on file with Fidelity. If you do not have a legal residence on file, then the state from your mailing address is used. Your state’s tax regulations may require that Fidelity withhold state tax from your distribution if you have elected to have federal tax withheld.
When requesting an IRA distribution by selling all shares in a mutual fund position held in an eligible mutual fund account, the withholding amount is an estimate. The estimated state tax is based on the mutual fund’s last available closing price and does not take into account any applicable fees.

Status
Status can mean the following:

Step Up
See Coupon.

Stochastic Oscillator
Many systems that are developed use the stochastics as a timing indicator for signals of market reversal. The stochastic oscillator compares where a security’s price has closed relative to the price range over a given time. The stochastic oscillator is used in charting on our Web site.

George Lane, who developed this indicator, theorized that in an upwardly trending market, prices tend to close near their high; and during a downward trending market, prices tend to close near their low.
Further, as an upward trend matures, price tends to close further away from its high; and as a downward trend matures, price tends to close away from its low.
The stochastic indicator attempts to determine when prices start to cluster around their low of the day for an uptrending market, and when the tend to cluster around their high in a downtrending market. Lane’s theory is these are the conditions which indicate a trend reversal is beginning to occur.
You can also refer to:

Stock Commission Schedule

Trades placed via Fidelity.com, Fidelity Anywhere, or Fidelity Active Trader Pro – $7.95
Trades placed via Fidelity Automated Service Telephone (FAST) – $12.95
Trades placed via a Fidelity Representative – $32.95
Unlimited number of shares. Applies to online trades in all U.S. equity securities and does not apply to foreign stock transactions or restricted securities transactions. Short Sales: Equity short sales and purchases to cover an equity short position will be charged a commission according to the stock commission rate. Additional fees may be charged on orders that require special handling. Waivers may apply. Commission schedules may vary for employee stock plan services transactions.
Commissions and related charges are subject to change without notice.

Stock Appreciation Rights
A stock appreciation right is a form of incentive or deferred compensation that ties part of your income to the performance of your company’s stock. It gives you the right to the monetary equivalent of the appreciation in the value of a specified number of shares over a specified period of time.

Stock Appreciation Rights Account
An account that is used to display stock appreciation rights that your employer gave to you as part of a stock appreciation rights grant.

Stock Compensation Plans
This is a section of the Portfolio screen. This section displays when Fidelity Investments administers your employer’s stock option plan or Employee Stock Purchase Plan. In this section, you will see your stock compensation plan for stock options and/or an Employee Stock Purchase Plan.

For a stock option plan, you can use the Select Action drop-down list to see information about your stock option grants and your stock option summary and history. You can also exercise stock options and view a list of exercise orders you placed during the current day.
For an Employee Stock Purchase Plan, you can use the Select Action drop-down list to see a summary or history of your participation, make a withdrawal, change your payroll deductions, or view estimates.

Stock Option
A stock option is the opportunity, granted to you by the issuer (e.g., your company), to purchase a certain number of shares of your company’s common stock at a pre-established grant price over a defined period of time. In general, there are three types of stock options: incentive stock options (ISOs), qualified stock options (QSOs), and non-qualified stock options (NSOs).

Stock Option Brokerage Account
This is an account that is used to clear exercise orders for stock options your employer gave to you as part of a grant.

Stock Option Details
This is a section on the Stock Option Summary| Vesting Schedule and Details screen. In this section, detailed information about a stock option grant displays (e.g., number of vested and unvested options, grant date, and type, etc.).

Stock Option Plan
A stock option is the opportunity, given by your employer, to purchase a certain number of shares of your company’s common stock at a pre-established price (the grant price). Employers may require a vesting period (the period of time you must wait before you can exercise a stock option).

Stock Option Totals
This is a section of the Stock Option Summary|Vesting Schedule and Details screen. In this section, option totals and current market values are shown for stock options across all of your stock option grants.

Stock Price
This is the fair market value of a security.

Stock Purchase Plan
Companies offer employee stock purchase plans so that employees can share in the success of the firm. A stock purchase plan enables employees to purchase their company’s common stock through payroll deduction, often at a discount from the market price. Certain stock purchase plans receive favorable tax treatment (for example, employee stock purchase plans).

Stocks
Securities that represent ownership and voting rights in a company. Also referred to as equities.

Stock’s Full Name and Symbol
The ticker or exchange symbol used to identify the stock and the name of the stock’s company.

Stock Split
Increases the number of shares a shareholder owns. The total net value of the shares is usually the same after a stock split.

For example, 50 shares at $100 per share worth $5,000 before a 2 for 1 stock split becomes 100 shares at $50 per share worth $5,000 after the split.

Stock Swap
This is a form of stock option exercise in which you exercise your option to acquire shares of your company stock by exchanging shares of a stock you currently own instead of cash to pay the exercise cost.

Stop Limit
For:


  • Listed securities, AFTER the primary exchange opens, a stop order to buy becomes a limit order when the stock is offered (National Best Offer quotation) at or higher than the specified stop price. A stop order to sell becomes a limit order when the stock is bid (National Best Bid quotation) at or lower than the specified stop price. Listed securities should not trigger until the primary opening print.

    Note: orders routed directly to the NYSE or NYSE AMEX will be triggered by prints on these exchanges.


  • Nasdaq Listed securities, generally, a stop limit order to buy becomes a limit order when the stock is offered (National Best Offer quotation) at or higher than the specified stop price. A stop limit order to sell becomes a limit order when the stock is bid (National Best Bid quotation) at or lower than the specified stop price.


  • Options, generally a stop limit order to buy becomes a limit order when the bid price is at or above the stop price, or the option trades at or above the stop price. A stop limit order to sell becomes a limit order when the ask price is at or below the stop price, or when the option trades at or below the stop price. The option stop election is based on the exchange’s best bid or offer (BBO) where the stop order resides.


It is important for investors to understand that company news or market conditions can have a significant impact on the price of a security. This could result in a Stop Limit Order not being executed at all if the price of the security moves through your Stop Limit price. Also, as with most Limit orders, it is possible for your Stop Limit order to receive only a partial execution.
For example, a stock is quoted at 85 Bid and 85.75 Ask. A Sell Stop Limit order placed at 83 would be triggered at 83 given the guidelines described above for either Listed or OTC securities are met. At that point, the order becomes a limit order. The stock would have to trade at 83 again for your Sell Stop Limit order to be considered for execution at 83 or better. If the trigger price of 83 was reached and the stock did not trade at 83 again and continued to fall, the order would not even be considered for execution.
For example, a stock is quoted at 85 Bid and 85.75 Ask. A Buy Stop Limit order placed at 87 would be triggered at 87 given the guidelines described above for either Listed or OTC securities are met. At that point, the order becomes a limit order. The stock would have to trade at 87 again for your Buy Stop Limit order to be considered for execution at 87 or better. If the trigger price of 87 was reached and the stock did not trade at 87 again and continued to rise, the order would not even be considered for execution.

Stop Loss
For:



  • Listed securities, AFTER the primary exchange opens, a stop order to buy becomes a market order when the stock is offered (National Best Offer quotation) at or higher than the specified stop price. A stop order to sell becomes a market order when the stock is bid (National Best Bid quotation) at or lower than the specified stop price. Listed securities should not trigger until the primary opening print.
    Note: orders routed directly to the NYSE or AMEX will be triggered by prints on these exchanges.


  • Nasdaq Listed securities, generally, a stop order to buy becomes a market order when the stock is offered (National Best Offer quotation) at or higher than the specified stop price. A stop order to sell becomes a market order when the stock is bid (National Best Bid quotation) at or lower than the specified stop price.


  • Options, generally a stop order to buy becomes a market order when the bid price is at or above the stop price, or the option trades at or above the stop price. A stop order to sell becomes a market order when the ask price is at or below the stop price, or when the option trades at or below the stop price. The option stop election is based on the exchange’s best bid or offer (BBO) where the stop order resides.


It is important for investors to understand that company news or market conditions can have a significant impact on the price of a security. This could result in a Stop Loss Order being executed at a price that is dramatically different than what your Stop Loss price indicates.
For example, a stock is quoted at 85 Bid and 85.75 Ask. A Sell Stop Loss order placed on an equity at 83 would be triggered at 83 given the guidelines described above for either Listed or OTC securities are met. At that point, the order becomes a market order to be filled at the next available price(s), which could be higher/lower than 83.
For example, a stock is quoted at 85 Bid and 85.75 Ask. A Buy Stop Loss order placed on an equity at 87 would be triggered at 87 given the guidelines described above for either Listed or OTC securities are met. At that point, the order becomes a market order to be filled at the next available price(s), which could be higher/lower than 87.

Stop Orders
Stop orders are generally used to protect a profit or to prevent further loss if the price of a security moves against you. They can also be used to establish a position in a security if it reaches a certain price threshold or to close a short position.

Buy stop loss and buy stop limit orders must be entered at a price which is above the current market price.
Sell stop loss and sell stop limit orders must be entered at a price which is below the current market price.

Stop Price

For a Stop Loss order, the price at which your order becomes a market order and executes at the next available price.
For a Stop Limit order, the price at which your order becomes an open limit order to buy or sell a security.

Straddle
A type of complex options trade order that 1) is the simultaneous purchase of puts and calls or the sale of puts and calls, and 2) consists of options with the same strike price and same expiration month. For example, 1) sell 1 IBM JAN 125 call and 2) sell 1 IBM JAN 125 put. To place a long straddle order, you must be approved for option trading level two or higher. To write a straddle, you must have a Margin Agreement on file with Fidelity and be approved for option trading level four or higher.

Rules: None
Examples:      Long Straddle
                             Long 10 XYZ 50 Put
                             Long 10 XYZ 50 Call

                      Short Straddle
                             Short 10 XYZ 50 Put
                             Short 10 XYZ 50 Call

Strangle
A strangle is a multi-leg options trading strategy involving a long call and a long put, or a short call and a short put, where both options have the same expiration date, but different strike prices.

Rules: None
Examples:      Long Strangle
                            Long 10 XYZ 45 Put
                            Long 10 XYZ 50 Call

                      Short Strangle
                            Short 10 XYZ 45 Put
                            Short 10 XYZ 50 Call

Strategy Benchmark
This benchmark return reflects your strategy as of the end of the most recent month for your PAS, PPS or Fidelity® Personalized Portfolio account. It reflects how your account’s benchmark has performed, but does not factor in the possible impact of taxes on your results or prior changes in your strategy. The benchmark is a composite of market indices allocated to suit your investment strategy.

Strategy Evaluator Sort By
You can sort your search results by various categories, including dollars earned, market value, profit loss percentage, and spread type.

Strategy Type
The method by which you’d like to trade multi-leg options, or search for possible multi-leg option trades. See Research > Options for more on options trading strategies.

Strike Price
The exercise price for an option’s underlying security.


  • for a call option, the price at which the security is bought

  • for a put option, the price at which the security is sold

Stripped Bonds, Stripped Coupons
This refers to bonds with the interest coupons removed. Strips are the interest coupons themselves. Since interest is not paid regularly, and is only included in the amount the investor receives when the bond is redeemed, this type of bond sells at a discount to the face value. The size of the discount depends on the current interest rates and the length of time to maturity. Also, referred to as zero-coupon bonds.

Structure
This is additional information about a new issue offering (e.g., new issue bonds) such as the term and call feature information.

For example, 4nc1 means that the bond’s term, time until maturity, is 4 years and that it is not callable, nc, for 1 year from date of issue.

Style Map
StyleMapSM depictions of mutual fund characteristics are produced using data and calculations provided by Morningstar, Inc. StyleMaps estimate characteristics of a fund’s equity holdings over two dimensions: the weighted median market capitalization of the fund’s holdings summarized as large, mid and small, and a growth/value scale which illustrates a composite of the price/earnings and price/book value ratios of the fund’s holdings. The percentage of fund assets represented by these holdings is indicated beside each StyleMap. Historical StyleMap characteristics are calculated as of the end of each quarter for the shorter of the past 12 quarters or the life of the fund. Current StyleMap characteristics are calculated as of the current date indicated. StyleMap characteristics represent an approximate profile of the fund’s equity holdings (e.g., domestic stocks, foreign stocks, and American Depositary Receipts), are based on historical data, and are not predictive of the fund’s future investments. Although the data are gathered from reliable sources, accuracy and completeness cannot be guaranteed.

Sub-Account
A subset of either the client’s account, which is managed by a separate account manager, or the mutual fund positions, which is managed by SAI.

Substitute Payments
Substitute payments are payments received in lieu of dividends, interest, or other payments. They may be generated, for example, where a security has been lent to a third party (such as a broker) over a dividend record date. When an investor has a debit balance in a margin account, securities in the account are often eligible to be lent. If the shares are lent over a record date, the investor should receive a substitute payment equal to the amount of the dividend. Although the Jobs and Growth Tax Relief Reconciliation Act (JGTRRA) introduced lower federal tax rates for qualified dividend income, substitute payments are not taxed as qualified dividends but are instead taxed as ordinary income. Substitute payments in lieu of dividends and tax exempt interest are reportable in Box 8 of Form 1099-MISC.

Summary of Active Offering Periods
This section of Summary screen for a Stock Purchase Plan displays a line item summary of the plan’s offering periods in which you have participated. Each summary line displays the following information for the period:


To view the details of an offering period, select the corresponding View Details link.

Survivor’s Option
This is an option that is available with some new issue fixed-income (e.g., bond) offerings whereby, if your beneficiary inherits securities you acquired through an offering, that person has the option to sell the securities back to the issuer at the face value upon receipt. Generally, securities issued under the Fidelity CorporateNotes ProgramSM have this option.

Yes displays if the security has a survivor’s option. Otherwise, No displays.

Symbol
An identifier that is used throughout the financial community to identify a security. It is typically used to identify equities, including the ticker symbol for the underlying stock that a convertible security can convert into.

Fidelity has created symbols for Fidelity variable annuity investment options so that you can get quotes, view investment options in watch lists, or to view historical price charts for investment options. Fidelity variable annuity investment option symbols are only recognized by Fidelity.

Please read about Fidelity variable annuity investment option symbols.

Symbols
Refer to Symbol.

For charts, symbols allow you to compare the relative price performance of one or more symbols vs. your selected security. Separate each symbol with either a space or a comma. There is no limit to the number of symbols you can enter in this field.
For example, if your primary security is International Business Machines (NYSE: IBM) and you want to compare its performance vs. Microsoft Corp (NYSE: MSFT), you would type MSFT in the Symbols input box and click Draw Chart.
Fidelity has created symbols for Fidelity variable annuity investment options so that you can get quotes, view investment options in watch lists, or to view historical price charts for investment options. Fidelity variable annuity investment option symbols are only recognized by Fidelity.
Please read about Fidelity variable annuity investment option symbols.

 
 
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