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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe)
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To: limit who wrote (1655)10/13/1999 1:51:00 PM
From: Madpinto  Read Replies (1) of 2241
 
KFE answered your question quite well, but here is an interesting footnote. The price of the opening print may be outside of the high-low spread for the day. The SPX settlement price is based on the opening price for each stock in the index. Often, the stocks do not open at the same time. Therefore, on a buy program for instance, the first stocks to open may trade lower immediately offsetting the opening prints for the stocks opening later. If the market never rallies, the closing price of the SPX can end up higher than the "high" for the day!
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