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ALSI Dec-10 MTM???

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Regular Contributor
I Sold 2 contracts at 26292 at approx 17h20 last night just as the FTSE was tanking. At 17h30 the ALSI Dec-10 had dropped approx 120 points (tracking the FTSE) - ending my day on a high note. Why was the daily MTM calculated at 26358 leaving a loss for the day??? If I'd sold at 17h29 I'd have made 120points per contract? No wonder traders lose money!
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Price alerts on the alsi-Does anybody make use of this?I never receive a sms if selected and the alert is triggered.
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Valued Contributor
MTM is meaningless .. just a snap shot in time ..
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Valued Contributor
notwithstanding we closed at 26358, so you was in the red at the close ..
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Regular Contributor
This is why I posted this under Educational... It may be a point in time (once one delves into the detail), however: the ALSI Dec-10 is supposedly down 113 points (at this point in time) today. However, the last ALSI DEC-10 trade at 17h30 last night was approx 26170. The ALSI DEC-10 is now trading at 26245 - it is UP from last nights close!!! VERY confusing for anyone looking a graph or summary, and this must have a psychological effect. I personally closed my positions while I tried to find out what was going on (I'm short, the Index is down and I'm losing money???)...
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Valued Contributor
last trade last night was exactly 26358 .. hence you are under water with your short .. and last trade right now was 26310 .. hence under water ..
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It would be nice to know more about shorting with this instrument. Can somebody shed some serious light on this? I am learning, so no detail will be too much. Bring it on.
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Valued Contributor
to short you just sell what youu don't own ..
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Regular Contributor
As this is the educational forum, I'll spread the love and post this info - it may help someone else who may be as confused as I was. Spoke to Simon and have clarified the following:
- Last night the last traded price at 17h30 on the ALSI Dec-10 was 26155.
- The marked-to-market (MTM) price as provided to Standard Bank from the JSE was 26358. This price is taken at approx 17h00, and reflected on the Portfolio's at approx 19h30.
So, this morning the ALSI Dec-10 opened UP against the previous Last traded price, but DOWN against the MTM

I also phoned the JSE and determined that all this info (and more) is freely available as a daily Excel File at this link: http://www.jse.co.za/DownloadFiles.aspx?RequestedNode=DownloadableDocuments/Safex/EdmStats

So, you can teach an old dog new tricks...

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Nice. Tell us more. You have learned a lot. Share the experience.
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This morning I bought my first ALMI as a test run and immediately things did not make sense. I placed an order for 1 contract at 26228 because there was a person wanting to sell at 26228. BUT when the purchase went through, I got it at 26200! Fine by me that I got it "cheaper" but why did I get it cheaper? Who determined that they would sell it to me at 26200? Who sold me a contract for 28 points cheaper?
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Super Contributor
unless you using EA, when u load a trade page, it remains static(bids/offers dont update), so when you loaded the page the lowest offer was 26238, but by the time you had fulled in details pushed trade, and the trade went through, price action, lowest offer was 26200, and system matched against this, same thing could happen with stocks. well least that sounds what happened... hence i dont use @ market.
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Valued Contributor
if there is a better price in the market before you, you get the better price ..
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Super Contributor
just wanted to make the point that just cause u see a bid or offer does not mean it will still be there by the time ur trade hits the system
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Okay just to clarify it in the other direction. It was not a at market offer. I did put in a limit offer. Just worked on the sellers price to make sure the deal goes through asap. Does this mean if the lowest offer is higher than my purchase price, the offer don't match thus no deal? Ja I know it sounds logical but in the world of trading everything is based on probabilities. And just for info. I sold it again and made 55 bucks. hehehehee It was just a test run, don't bite my head off. Wanted to see how the selling side works, how fast, how close to the bid and offer prices and so on. I'll use the 55 bucks to buy the wife some flowers on my way home.
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Regular Contributor
So you the oke I bought from?
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I noted the points to the last one at 17h29 yesterday.It was 26155. Live prices on the TRADE page.I poned OST. They did not know what I was talking about.I asked that a manager phone me.That was about 10h30.I am still waiting.What you see is what you get?No not with OST. Here you get illusions for suckers.
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Not sure. Things happen so fast. It seems that what-you-see-is-not-necessary-what-you-get. BUT if you did pay me 55 bucks, my wife says thanks.
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