# of units of stock - what exactly does this mean?

From SS 13, when creating synthetic equity, the term “# of units of stock” is used but I don’t know exactly what that refers to. Anyone know? This seems like one of those “buzz words” that could pop up.

just shares of stock…

number of shares

I just assumed it was number of shares: Formula for number of units purchased: #contracts(multiplier)/(1+div yield)t

for futures it is the number of futures contracts, not the shares…

If you would have actually bought the stock, that is the number of shares you would have bought.

So if you purchase 10 units, is that like saying you purchased 10 shares of S&P?

10 units would be : 10 s&P futures contracts for futures… or for stock 10 shares of Apple Inc.