Definitions (3)
2. The lowest selling price when selling a new issue of shares by tender (applicants who tendered at a higher price will get shares; those who tendered at a lower price will not).
3. Price at which an option is exercisable. In a call option, it is the price that the buyer must pay to the writer of the option. In a put option, it is the price the writer of the option must pay to the holder of the option. Also called exercise price or striking price.
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