| Variable Price Limit |
A price limit schedule, determined by an exchange, that permits variations above or below the normally allowable price movement for any one trading day.
|
| Variation Margin |
Additional margin deposited by a clearing member firm to an exchange clearing house during periods of great market volatility or in the case of high-risk accounts.
|
| Versus Cash |
A transaction generally used by two hedgers who want to exchange futures for cash positions. Also referred to as Against Actuals or Exchange for Physicals.
|
| Vertical Spread |
Buying and selling puts or calls of the same expiration month but having different strike prices.
|
| Volatility |
A measurement of the change in price over a given time period.
|
| Volume |
The number of purchases and sales of futures or options on futures contracts made during a specified period of time.
|