Grassplot and Pit

noun

• A sizeable hole (usually in the ground. )
  • usage: "they dug a pit to bury the body"
  • synonyms: cavity
• A concavity in a surface (especially an anatomical depression.
  • synonyms: fossa
• The hard inner (usually woody) layer of the pericarp of some fruits (as peaches or plums or cherries or olives. that contains the seed)
  • usage: "you should remove the stones from prunes before cooking"
  • synonyms: stone, endocarp
• Christianity) the abode of Satan and the forces of evil; where sinners suffer eternal punishment. ( "Hurl'd headlong... To bottomless perdition, there to dwell- John Milton; "a demon from the depths of the pit"; "Hell is paved with good intentions-Dr. Johnson
  • synonyms: Hell, perdition, Inferno, infernal region, nether region
• An enclosure in which animals are made to fight.
• Commodity exchange. ( the part of the floor of a commodity exchange where trading in a particular commodity is carried on)
• Auto racing. ( an area at the side of a racetrack where the race cars are serviced and refueled)
• A trap in the form of a concealed hole.
  • synonyms: pitfall
• A surface excavation for extracting stone or slate.
  • usage: "a British term for `quarry' is `stone pit'"
  • synonyms: quarry, stone pit
• Lowered area in front of a stage where an orchestra accompanies the performers.
  • synonyms: orchestra pit
• A workplace consisting of a coal mine plus all the buildings and equipment connected with it.
  • synonyms: colliery

verb

• Set into opposition or rivalry.
  • usage: "let them match their best athletes against ours"; "pit a chess player against the Russian champion"; "He plays his two children off against each other"
  • synonyms: oppose, match, play off
• Mark with a scar.
  • usage: "The skin disease scarred his face permanently"
  • synonyms: scar, mark, pock
• Remove the pits from.
  • usage: "pit plums and cherries"
  • synonyms: stone

• A cellar or excavation used for refuge from a cyclone or tornado.
• (n.) A depression or thin spot in the wall of a duct.
• (n.) A covered deep hole for entrapping wild beasts; a pitfall; hence, a trap; a snare. Also used figuratively.
• (n.) The shaft of a coal mine; a coal pit.
• (n.) The indentation or mark left by a pustule, as in smallpox.
• (n.) A large cavity or hole in the ground, either natural or artificial; a cavity in the surface of a body; an indentation.
• (n.) Formerly, that part of a theater, on the floor of the house, below the level of the stage and behind the orchestra; now, in England, commonly the part behind the stalls; in the United States, the parquet; also, the occupants of such a part of a theater.
• (v.t.) To mark with little hollows, as by various pustules; as, a face pitted by smallpox.
• (v.t.) To introduce as an antagonist; to set forward for or in a contest; as, to pit one dog against another.
• (n.) An inclosed area into which gamecocks, dogs, and other animals are brought to fight or where dogs are trained to kill rats.
• (n.) The endocarp of a drupe, and its contained seed or seeds; a stone; as, a peach pit; a cherry pit, etc.
• (n.) The hollow place under the shoulder or arm; the axilla or armpit.
• (n.) A large hole in the ground from which material is dug or quarried; as, a stone pit; a gravel pit; or in which material is made by burning; as, a lime pit; a charcoal pit.
• (n.) A depression or hollow in the surface of the human body.
• (n.) See Pit of the stomach (below).
• (n.) A vat sunk in the ground; as, a tan pit.
• (n.) Any abyss; especially, the grave or hades.
• (v.t.) To place or put into a pit or hole.

• Name Meaning: From the Pit
• Name Origin: English

Pit is the area on a trading floor where futures and options are traded. Often there are multiple pits on a trading floor, each dedicated to a specific contract.