pitpit /pɪt/ noun [countableC] American EnglishAmE1FINANCE an area of the floor of a financial market where buying and selling takes place and dealers speak directly to each otherSYN FLOOR, TRADING FLOORthe currency pit of the Chicago Commodity Exchange
the most active trader in the world’s most active futures-trading pit
2a mine, especially a coal mineWe have no choice but to close unprofitable pits.