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Classification and Type

noun

(n.) The act of forming into a class or classes; a distibution into groups, as classes, orders, families, etc., according to some common relations or affinities.
(DoD) The determination that official information requires, in the interests of national security, a specific degree of protection against unauthorized disclosure, coupled with a designation signifying that such a determination has been made. See also security classification.

noun

  • A subdivision of a particular kind of thing.
    • usage: "what type of sculpture do you prefer"
  • A person of a specified kind (usually with many eccentricities. )
    • usage: "a real character"; "a strange character"; "a friendly eccentric"; "the capable type"; "a mental case"
  • Biology) the taxonomic group whose characteristics are used to define the next higher taxon. (
  • Printed characters.
    • usage: "small type is hard to read"
  • All of the tokens of the same symbol.
    • usage: "the word `element' contains five different types of character"
  • A small metal block bearing a raised character on one end; produces a printed character when inked and pressed on paper.
    • usage: "he dropped a case of type, so they made him pick them up"

verb

  • Write by means of a keyboard with types.
    • usage: "type the acceptance letter, please"
  • Identify as belonging to a certain type.
    • usage: "Such people can practically be typed"

Type is the classification of an option contract as either a put or a call.