Price made up of the highest price offered by an investor and the lowest price a seller will take for unlisted securities in the over-the-counter market, together comprising a stock quotation. The term offer is used more frequently than ask. The bid is always lower than the ask, or offer, and is always quoted first. The difference between the bid and asked, or offered, price is the spread. The touch is the spread between the best bid and best ask, or offer.