What does Even Lot mean?
A normal unit of trading for a commodity or a financial instrument. Even lots are different for different commodities and securities and are notified by the exchange. Commodity price is quoted per unit and trading takes place in round lots.
Futures Knowledge Explains Even Lot
For example, an even lot to buy or sell stock can be 100 shares and for bonds even lot can be 10 bonds. In case of odd lots, the standard price is not applicable and decided separately by the seller and the buyer.