Definition
An odd lot is an order for fewer than 100 shares (a round lot). Historically, odd lots received inferior execution, but modern markets generally handle them efficiently. Odd lot trading has increased with fractional shares and commission-free trading. Some analytics track odd lot activity as a retail sentiment indicator.
Example
You buy 47 shares of Amazon for $15,000 - this is an odd lot order since it's less than 100 shares.
FAQ
What is Odd Lot?
An order for fewer than 100 shares of stock.
Why is Odd Lot important?
Odd Lot helps investors evaluate trading mechanics and make more informed decisions.