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Odds (betting) - as typically used in wagering outcomes, the odds of success/winning are expressed in the form "r:s" ("r to s") and correspond to the probability of succeeding/winning [P=s/(r+s)]. Therefore, given a probability P, the odds of succeeding/winning are
"(1/P)-1 : 1".

Octane - an octane number or octane rating is a value used to indicate the resistance of a motor fuel to knock (ping). Octane numbers are based on a scale on which isooctane is 100 (minimal knock) and heptane is 0 (bad knock). For example, a gasoline with an octane number of 92 has the same knock as a mixture of 92% isooctane and 8% heptane.

Option - a contract that gives the right, but not the obligation, to purchase or sale an underlying asset at a specified price during a defined time period.

Option Premium - the amount that an option buyer pays to the seller.

Open Interest - the total number of futures contracts or option contracts that have not yet been exercised, expired, or fulfilled by delivery.

Operational Risk - the risk to financial or other institutions from inadequate or failed internal processes, people and systems or from external events.

Out of the Money - for call options, the condition where the price of the underlying asset is less than the exercise or strike price of the option. Conversely, for put options, the condition where the price of the underlying asset is higher than the strike price of the option.

Outliers - probabilistically remote events that are often viewed as statistically independent as well.  Various techniques can test if actual data differ in a statistically significant manner from the benchmark or normal distribution.

Over The Counter (OTC) - traded in some context other than a formal exchange.

Oxygenate - a gasoline fuel additive containing hydrogen, carbon and oxygen. The oxygen content promotes more complete combustion of gasoline, which reduces tailpipe emissions of carbon monoxide.

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