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Retirekit Glossary V

V


Value
For a quote, this is the last trade price of a security multiplied by the number of shares.

For portfolio or account analysis, this is an investment type that refers to a stock that may be priced lower in relation to earnings potential. These stocks may trade below average price to earnings ratios.

Value of Exercisable Options
The total value of stock options that have vested and are exercisable. This value is calculated using the previous business day’s closing price minus the grant price multiplied by the total options exercisable, or zero, whichever is greater. Actual value at exercise may vary

Value of Unvested Grants
An estimated value across all of your unvested restricted stock awards or restricted stock units. This value is equal to the previous business day’s closing price of the stock multiplied by the number of unvested grants (but not including unaccepted grants).

Value of Unvested Options
The total value of options that have been accepted but have not yet vested.

Value of Unvested Units
An estimated value across all of your unvested restricted stock units. This value is equal to the previous business day’s closing price of the stock multiplied by the number of unvested units (but not including unaccepted units).

Value of Vested to be Distributed
An estimated value across all of your vested restricted stock awards or restricted stock units. This value is calculated using the previous business day’s closing price.

Value Per Income Unit
The value of purchase payments in a variable annuity which is measured in units.

The value of each unit will rise or fall each business day depending on investment performance.

Value Stocks
Stocks that are considered to be undervalued based upon such ratios as price-to-book or price-to-earnings (P/E). These stocks generally have lower price-to-book and price-earnings ratios, higher dividend yields and lower forecasted growth rates than growth stocks.

Vega
The rate of change in an option’s theoretical value for a one-percent change in volatility.

Example:       A position vega of 0.10 means that for a 1% change in volatility, the combined option value would rise/fall by $0.10.

Verified Cancel
An order status indicating a request you placed to cancel an open mutual fund order has successfully executed and the order is canceled.

Verified Canceled/Partially Filled
An order status indicating a request you placed to cancel an order has executed successfully and the order is canceled after a portion of the order has executed, but not all of the order.

Versus Purchase
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.

You can choose from up to 10 of the oldest tax lots held in your account for a security on the Tax Lots Choose Specific Shares screen. Additionally, this screen has an Enter Lots section where you can enter up to three additional tax lots for the security that are in the account, but are not listed.
When you specify tax lot shares, you assign each tax lot a priority. This sets the order in which tax lot shares will be traded.
Choosing and prioritizing the order in which specific tax lot shares are traded allows you to minimize or maximize the gain or loss you will realize after a trade order executes.
In many cases, an order can execute with the full share amount sold all at once. In some cases, (e.g., with thinly traded stocks or options, or large share quantities), an order may be partially executed. This is when the priority you specify is useful, because it sets the order in which the tax lot shares are sold.
Please note:


  • If tax lot shares are not specified when an order is placed, the shares traded 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 screen you see after you place an order.
    * 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.


Versus purchase is also known as Specific Shares.

Vertical Spread
A vertical spread is the simultaneous purchase and sale of options of the same class (i.e., both puts and calls) on the same underlying stock with the same expirations, but with different strike prices. A vertical spread is a directional spread; one in which a trader’s focus is on the direction in which the price of an underlying stock is moving in the market. Of secondary importance is market volatility. Common vertical spreads include the bull call spread, the bull put spread, the bear call spread, and the bear put spread.

Vested
Restricted stock awards or restricted stock units which you have accepted and which have vested.

Vested Awards
The total number of restricted stock awards per grant that you have accepted and that have vested.

Vested Balance
The value of a Fidelity NetBenefits® account which is non-forfeitable. The vested balance includes 1) the amount of any company matching contributions, any other employer contributions, and any earnings which are non-forfeitable and 2) your own pre or after tax contributions and any earnings.

Note: The vested balance only displays if applicable for a NetBenefits account.
The availability of Fidelity NetBenefits and the options and services available to you depend on the specific features of your employer’s plan.

Vested Options
The number of stock options per grant that are eligible for exercise.

Vested Rights
This refers to stock appreciation rights for a particular stock appreciation rights grant that are eligible for exercise. On the Stock Appreciation Rights Summary|Vesting Schedule and Details screen, two vested rights balances display. One is the total number of vested rights and the other is the total estimated current value of these rights.

Vesting
Depending on your Fidelity NetBenefits ® savings plan’s provisions, after you have been with your employer for a certain amount of time, you have a non-forfeitable right to employer-contributed money in a pension fund or profit sharing plan. You are “vested” in that fund or plan.

The availability of Fidelity NetBenefits and the options and services available to you depend on the specific features of your employer’s plan.
For stock option grants, this is the process by which options become exercisable, usually through the passage of time. Stock options are considered vested when you have the right of ownership and you can exercise the options at any time before they expire.

Vesting Date


  • For stock options, the date on which you have the right of ownership for stock options. From this date until the stock options expire, you can exercise the options. Certain vested QSOs may be subject to exercise restrictions.

  • For performance shares/units, the date on which the grant vests. This may be the same date as your performance end date. See your employer’s plan rules for details.

  • For restricted stock awards and restricted stock units, the date on which the grant vests. From this date, you have full rights of ownership of your company stock.

  • For stock appreciation rights, the date on which the rights vest. From this date until the stock appreciation rights expire, you can exercise the rights.

Vesting Schedule
This is a schedule of dates on which you get the right of ownership for a specific number of stock options awarded as part of a stock option grant. The vesting schedule for stock options is defined in the grant agreement you sign when you accept a stock option grant.

For example, if you were granted 1000 stock options on February 1, 2000. The vesting schedule may state that 200 of the options will be vested on February 1, 2004, another 200 options will be vested on February 1, 2005, another 200 on February 1, 2006, etc.

Vesting Status
For Restricted Stock Awards (RSA), this indicates whether or not the vesting date of the award has passed.

View Bond Price and Details
This is an option you select when placing an order for a fixed-income security (e.g., bond) to see detailed information about the security (e.g., if it is callable, S&P and Moody ratings, coupon interest payment frequency, etc.).

Volatility
Volatility measures the variability of historical returns. Relative Volatility, Beta, and R2 compare a portfolio’s total return to those of a relevant market, represented by the benchmark index. Standard Deviation is calculated independent of an index.

Volatility Fast
Volatility may be defined as the percentage price change or fluctuation over a given period of time.

To obtain the correct perspective, it is important to look at ratios or percentage changes rather than at point changes, which are influenced too much by the level of prices.
Volatility can also be defined as the widening of the range between the high and low prices. The Volatility Slow indicator in BigCharts references the following default parameter: Time Period -21.

Volatility Slow
Volatility may be defined as the percentage price change or fluctuation over a given period of time.

To obtain the correct perspective, it is important to look at ratios or percentage changes rather than at point changes, which are influenced too much by the level of prices.
Volatility can also be defined as the widening of the range between the high and low prices. The Volatility Slow indicator in BigCharts references the following default parameter: Time Period -21.

Volume
For stocks, this is the number of shares traded during the current day on all exchanges where the security is traded. Index Volume is the sum total volume of all stocks included in the index for the current day. Please note: Volume may include pre-session, directed trades or any other executions before the NYSE opening at 9:30 AM ET.

For options, this is the number of option contracts traded during the current day on all exchanges where the security is traded. Also known as composite volume.
For an Order Book Quote, this is the number of shares traded in the associated Standard Session.

Volume Accumulation
The Volume Accumulation, developed by Mark Chaikens, is a modification on the traditional On Balance Volume (OBV) indicator.

Instead of assigning all the period’s volume to either buyers or sellers, the Volume Accumulation uses a proportional amount based on the relationship between the closing price and its intra-period mean price.
In effect, the indicator is measuring shades of gray that traditional volume indicators like OBV miss.
However, if price closes at the period’s high or low, all volume for that period will be assigned accordingly regardless of the relationship to the intra-period mean price.
Movement of the oscillator above the zero line measures buying pressure while movement below the zero line measures selling pressure.

Volume by Price
The Volume by Price indicator show the level of trading volume relative to the price of the primary security.

For example, if you are charting IBM and you apply the volume by price indicator, BigCharts will create a bar chart on top of the price chart showing the distribution of trading volume at different price levels for IBM.
This is useful in determining where the majority of historical trading volume occurred and may help you find meaningful support and resistance lines.
Support lines are used to determine at what price buyers are likely to come into the market and support a stock.
Resistance lines are used to determine at what price sellers may unload their stock thereby driving the stock price lower.
Remember, these are very subjective measures and by no means is the volume by price indicator sufficient in and of itself to mark either support or resistance lines.

Volume+
The Volume+ indicator identifies by color bars when the trading volume contributed to a gain in price and when the trading volume was associated with a loss in price. The colors are labeled in the legend above the indicator.

In addition to the color coding, the Volume+ indicator displays a symbol’s 50-day average volume as a reference point.

 
 
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