RE: ,PPOh, we are patronizing, aren't we?
I've just not encountered this abbreviation. And yes, I took a break from the VSE and until a year ago was only trading commodities because I liked the speed. Like this one:
https://datasuite.cmegroup.com/dataSuite.html?template=fut&productCode=GC&exchange=XCEC&strategyType=SP&selected_tab=metals
So we are talking about an underwriting that isn't done by a brokerage house when talking about a PP. Or new financing.
Oh, and about Windfall? Check it out. Ticker = WDM. It traded on post #9 on the TSE floor. The crash was on July 31, 1964. The G&M had 2" headlines saying "WINDFALL ASSAYS WORTHLESS". It had closed at 4.05-4.10 the night before and opened at .80 bid. I had to take a 2nd job to pay for my margin call.