It stands for non-equity option; an option whose underlying is a security other than stock, such as a commodity, debt security, financial futures, index, etc. Examples include: commodity options, bond options, futures options, currency options, interest rate options, etc. In general, a non-equity option is any listed option which doesn’t qualify as an equity option, but nevertheless is traded on, or subject to, the rules of a qualified board or exchange.
July 13, 2023