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| Benjamin |
 Posted: Fri May 05, 2006 9:40 am Post subject: Penny Stocks |
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Administrator
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Ok you know who you are... 
What if we had a separate sim contest for penny players. Do you think there are a lot out there that would use it?
Do many of the stocks people pick under $2 have .'s in them?
We could put a $5 limit to buy.
Would we have to worry about volume?
Do all options have .'s in them?
Any other worries?
I dunno, nothing soon with this, but just thinking out loud for the future.
Personally I find buying a stock valued at say .15 cents exciting, (Like upping your bet in blackjack to $50 for a hand after you've had a few drinks) but extremely dangerous. Might be fun to sim it though and get a feel. |
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| Dave Rathbun |
| Posted: Fri May 05, 2006 10:21 am Post subject: |
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CFO
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Option quotes from Yahoo (per my research) all end with .X
The current code handles expired options, what it doesn't handle is the quantity. When you buy one option contract (at the price quoted) you are really buying an option on 100 underlying shares. So the purchase price for one option contract is really 100 times the option quote.
If that can be confirmed then options trading can be flipped on relatively easily. (Expired options are sold at $0.00 value with no commission, which is what happens in real life if you hold an options contract that expires without closing it.)
If you recall, the main issue with penny stocks wasn't the price but the volatility of their symbols. One day it might be XYZ and then the next it could be XYZQ.OB or something like that. And then it might change back the week after. So in my opinion if you're going to open back up to "dot" stocks we'll need a better way to track and fix invalid symbols. |
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