In the trading of equity options, the execution of a trade so bad that the party in need of a fritzer is forced to buy above the market offer or sell below the market bid, usually due to a large stock or volatility move between consummation and execution of the trade. This generally means that the trade cannot be legally executed for some time, leading to much wailing and gnashing of teeth by the party taking the Fritzer.
CLERK: I can't f-ing print these, _____!
TRADER: We're going to need a Fritzer on this one!!! That mf-er ran me over!