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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (4909)	6/1/2000 12:24:00 PM
From: Patrick Slevin	Respond to of 7434

If I recall correctly, that happens because the SPX does not "open" at 9:30 Eastern. It Opens when a certain percentage of the stocks are trading. I think it's 85%, although that may be by weight. So in other words, if everything was trading except GE, MSFT, CSCO, and say a handful of other very large caps the SPX would not be trading as an Index because there would not be enough "weight" to justify a quote. Further, there would not be any options trades until it was Open. That's why OEX Options don't trade right away. At least that's what I recall, anyway. So presuming that is the case, your service is collecting no data at the Open. Therefore it registers "something", and that something is the last "trade".....which of course is the Close from the prior day. That's why it's so hard to see gaps on a daily Cash Chart, in many cases.