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UNCOVERED CALL OR PUT: A call option written (uncovered call) or a put option purchased (uncovered put) without ownership of the underlying asset. An uncovered call or put is also called naked option. 

UNDERLYING (STOCK OR SECURITY): Examples of underlying securities are stocks, bonds, futures and indices. In derivatives, the security that must be delivered when a derivative contract, such as a put or call option, is exercised. In equities, the common stock that must be delivered when a warrant is exercised, or when a convertible bond or convertible preferred share is converted to common stock.

UNSYSTEMATIC RISK: This is the risk of price change due to the unique circumstances of a specific security, as opposed to the overall market. This risk can be virtually eliminated when a portfolio is diversified.

UP-TICK: A stock market transaction (or sometimes, a quote) at a price higher than the preceding one for the same security. This is also called plus tick which is the opposite of downtick.

UPTREND: This is the continuing rising price movements in a security over time.

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