[Soultrader]

Alphabetical Order S - Z

Scalp General Floor Term
To trade for small gains. Scalping normally involves establishing and liquidating a position quickly, usually within the same day, hour or even just a few minutes.
Settlement Price General Floor Term
A figure determined by the closing range that is used to calculate gains and losses in futures market accounts. Settlement prices are used to determine gains, losses, margin calls, and invoice prices for deliveries. (see Closing Range)
Sizing Up
When locals check quantity on a paper bid or offer. Example: "XYZ Bank 50 offered at 500, 450 bid paper, locals SIZING UP the bid."
Short General Floor Term
The position of one who has sold a futures contract to establish a market position and who has not yet closed out this position through an offsetting purchase; the opposite of long.
Short Hedge General Floor Term
The sale of a futures contract in anticipation of a later cash market sale. Used to eliminate or lessen the possible decline in value of ownership of an approximately equal amount of the cash financial instrument or physical commodity. (see hedge, long hedge.)
Small
Small contract lot. Not a big order. (Usually less than 9 contracts) but this is relative remember. Usually a term that is heard in a quiet market.
Solly S&P 500 Term
Solomon Brothers. Generally smart money, they used to be the best.
Speculator General Floor Term
One who attempts to anticipate price changes and, through buying and selling futures contracts, aims to make profits; does not use the futures market in connection with the production, processing, marketing or handling of a product. The speculator has no interest in making or taking delivery.
Spot S&P 500 Term
The S&P cash index (commonly SPY or $SPY on most screens).
Spread General Floor Term
The simultaneous purchase and sale of futures contracts for the same commodity or instrument for delivery in different months, or in different but related markets. A spreader is not concerned with the direction in which the market moves, but only with the difference between the prices of each contract.
Spread, The S&P 500 Term
The following contract month minus the front month, E.g. march-dec.
Stop Order (Or Stop) General Floor Term
An order to buy or sell at the market when and if a specified price is reached.
Take S&P 500 Term
Buy, E.g. Locals buy the hundred at 60.
Thin S&P 500 Term
No action, no one really trading or showing any bids or offers. Very little paper.
Tick General Floor Term
Refers to a change in price, either up or down. (see Minimum Price Fluctuation)
Trend General Floor Term
The general direction of the market.
Volume General Floor Term
The number of transactions in a futures or options-on-futures contract made during a specified period of time.
"Watch the [bid/offer, or price]"
Bid or Offer
Our way of telling you that activities on the floor warrant your attention to one side of the market. Example "Watch your bid", the bid may be firming up or breaking down and the market could turn soon. A stock trader would equate this information to his or her Level 2 screen.
Webber S&P 500 Term
Paine Webber. They do a lot of asset allocation business: S&P's; Bonds.
Witter S&P 500 Term
Dean Witter.
Working S&P 500 Term
The Broker is trying to execute an order.
X'd Out ( Or Cancelled Out ) S&P 500 Term
When a trade is whistled no good and is stricken.