Newbie question about Volume in a trade

As I understand Volume for placing a stock trade, Voulme is defined in what is called Lots and 1 Lot is equal to 100 shares.

If I wish to purchase only 50 shares of a stock, then I would specify 0.5 as my Lot which represents 50% or 50 shares in this case. And this is referred to as an Odd Lot.

Is my understanding correct or do I have parts of it incorrect?

Thank you...

 

Would be pretty messed up if that were the case. What if you wanted to buy only 1/3 of 1 share?

 

The bid/offer is showed in lots. Simply put 50 in as quantity.

 

1. Your broker has to support fractional shares.
2. Just add more decimal places:
0.1 is 10% or 10 shares.
0.01 is 1% or 1 share.
0.033 would be 33% of 1 share.
(check my math, is that right?)

 

Hey fresh.
Dunno, but here's my view :
fractional is yet another product, by the brokers, to make an extra $ via fees.
There are plenty of mid/small caps with affordable shares, under $100.
Problem is, folks focus only on the largest names.