Glossary

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High Price - The day's highest price of a security that has changed hands between a buyer and seller.

Historical Volatility - An estimate of empirical volatility, under which prices are observed at fixed time intervals and are used to calculate volatility for that period.

Home Equity Line of Credit - A form of revolving credit whereby one's home serves as collateral.

Home Equity Loan - A fixed-term loan based on the equity in the mortgagor's house.

Homeowner's Policy - An insurance policy available to owners of private dwellings that covers the dwelling and its contents, in the case of fire or wind damage, theft, liability for property damage, and personal liability.

Hybrid Security - A complex security consisting of a combination of two or more risk management tools - bond or note, forward, future, option or swap.

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Glossary

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