EFP	An exchange of futures for physicals, which is a transaction in which one party buys the physical commodity and simultaneously sells futures and the other party does the opposite-sells the physical commodity and simultaneously obtains a long futures position.
Equity	The residual dollar value of a futures or options account if it were liquidated at current prices.
Exchange Traded Funds (ETF)
Exercise	To take advantage of the right conferred on an option's buyer to buy or sell the item underlying the option at the option's strike (exercise) price.
Exercise price	The price at which the buyer of a call can purchase the underlying commodity, security, index, currency or futures contract during the life of the option or the price at which the buyer of a put can sell the underlying commodity, security, index, currency or futures contract during the life of the option. Also termed strike price.
Expiration	a coming to an end of a contract period
Expire	to come to an end; terminate, as a contract, guarantee, or offer