What Is the Opening Price?
The opening price, also known as the opening price, refers to the first transaction price per share of a certain security after the market opens on each trading day of the stock exchange. Most stock exchanges in the world use the principle of maximum turnover to determine the opening price.
Opening price
- Opening price
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- The opening price of the futures market is generated through call auctions, which are
- Call auction
- Open high: refers to today's opening price above yesterday's closing price.
- Kaiping: Today's opening price was flat at yesterday's closing price.
- Open low: Today's opening price is below yesterday's closing price.
- In actual combat, the opening price is actually very critical, such as a variety that is in the main rise,
- The opening price is the starting point of the day. The composition of each K-line is the opening price, the highest price,
Opening price
- The opening price is generated by the call auction. The call auction method is: within 5 minutes before the opening of each trading day, the first 4 minutes are the declaration time for the futures contract buy and sell price instructions, and the next 1 minute is the call auction matching time. .
- Call auction adopts the principle of maximum volume, that is, the maximum volume can be obtained by trading at this price. First, the trading system arranges all valid buyer declarations in descending order of declaration price, and the same declaration prices are arranged in descending order of entry into the system; all valid sell declarations are in descending order of declaration price. Arranged, the same declared price according to the time of entering the system. Next, the trading system gradually matched the previous buyer's declaration with the sell declaration's matching transaction until it could not be concluded. If the last transaction is all completed, the arithmetic average price of the buyer's declared price and the sold declared price of the last transaction shall be the price generated by the collective auction, and the price shall be rounded according to the minimum fluctuation price of each futures contract; The last transaction was a partial transaction, so the declared price of the partial transaction is the price generated by the collective auction (please note that the price is the opening price, and all the transaction quotes have been used as the transaction price instead of the quoted price).
- for example:
- Assume that the Shanghai and Shenzhen 300 Index futures contract declaration order in a month is as follows (the minimum change price is 1 yuan):
- The pairing situation is: the purchase price of the order 1 is higher than the sale price of the order 1 and 30 lots are traded; the purchase price of the order 1 is still 20 lots unsettled, because it is higher than the sale price of sort 2, 20 lots were traded; 40 lots were not sold at the sell price of 2 because 40 was lower than the purchase price of 2; 50 lots were not sold at the purchase price of 2 because The selling price for 3 is high and 50 lots are traded; there are still 70 lots for the selling price of sorting 3, but it is obviously unable to be traded because it is higher than the buying price of ranking 3. In this way, the final opening price is 1288 points, and 140 lots are traded at this price (or 280 lots in bilateral calculation).
- Unsettled declarations in open auctions are automatically converted into auction transactions after the market opens.
Opening price closing price
- The generation of the closing price is relatively simple. Usually, the price of the last transaction on the contract day is used as the closing price.