Option Adjusted Spread - OAS
Mainly used for fixed income products, OAS measures the yield spread that is not directly attributable to the fixed income's characteristics.
Investopedia Commentary
This is a measurement tool for evaluating price differences between similar products with different embedded options. A larger OAS implies a greater return for greater risks.
Related Links
Options Basics Tutorial
See also: Bond, Kicker, Sweetener
Also spelled: OAS