Who Here Knows Trading Terms???

[dgmodel]

When A Floor Trader says " buying 50k of ABC (stock) in Orange" what does the term "In Orange" Mean???

 

[dgmodel]

40 ppl and not one knows... lol... if anyone finds out or is trying to... let me know.. thank you in advance for any and all your help...

 

[acrary]

We used to use gambling chip colors when talking about order sizes to our guys on the floor. Orange chip = $1,000, so when I talked to a floor trader about upcoming orders we'd talk like "Tell Jimmy to hit the can now, I'm gonna need a orange of SPU's in about 10 min." (meaning I'll need to buy 1,000 September SP contracts coming up, so Jimmy better go take a quick bathroom break). We used chip colors to avoid errors because of the floor noise level.

Doesn't seem too relevant to your context, though.

 

[Tacsian]

Might have meant buying 50k abc in 1000 lots then?

 

[dgmodel]

Quote from acrary:

We used to use gambling chip colors when talking about order sizes to our guys on the floor. Orange chip = $1,000, so when I talked to a floor trader about upcoming orders we'd talk like "Tell Jimmy to hit the can now, I'm gonna need a orange of SPU's in about 10 min." (meaning I'll need to buy 1,000 September SP contracts coming up, so Jimmy better go take a quick bathroom break). We used chip colors to avoid errors because of the floor noise level.

Doesn't seem too relevant to your context, though.

thank you very very very very much... youre the man!!!

 

[gaj]

i know that colors are used for futures contracts as well, but don't remember orange being one of them (for eurodollars).

 

[josbarr]

Each year in ED has a color. Orange is 2009, Purple is 2008 , ect