The standardized number of units of a stock or asset that are being traded. For example, in forex trading (where trading in standardized amounts is common), the lot is the number of currency units you will buy or sell. If the unit is not in a standard lot size, it is considered an “odd lot.” The value of a lot is set by an exchange (or other market regulator), and is typically the minimum number of units you can buy of a specific financial instrument.
Lot
Market Terms
We don't know everything about the markets. We're just devoted to learning. Taken from those smarter than ourselves, here's how we define Lot.