Creation of new stocks.

How do the initial options get put out on to the market? The daily NZX was put out at round 8pm monday and the lowest sell order was 98c. How did they purchase/get them etc? (98c is an expensive buy that early on)

Hi - you can place orders on a contract using the Advanced trading interface, top left of your screen after you have clicked the Trade button on the contract. On the Advanced trading screen you can name the price and quantity of your offer, and if your offer cannot be immediately matched it will stay on the order books until a trader makes a matching offer on the other side, or you cancel the order, or the contract closes and pays out.

Added a post here and will be linking future contracts without MM to this post:

[www.ipredict.co.nz]

I don't think admin answered what you intended to ask.

shehe826 Wrote:
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> lowest sell order was 98c. How did they purchase/get them etc?

They didn't.

It's called short-selling, you offer to sell X stocks at Y price, it doesn't matter if you own those X stocks or not. If somebody takes up your offer, you can think like somebody lets you borrow those stocks, which you sell.

Then at a point in the future, you will have to buy some stocks to replace them so you can give them back.

So, you have 0 units, you sell 10 units at 95c, now you have -10 units, at some point in the future you buy 10 units for 90c, you now have 0 units again, but you made 50c on the deal (ignoring fees).

When a contract is closed, anybody who is short (has a negative number of stocks) automatically buys the required number at whatever the closing price is ($0 or $1 for most contracts).

Good to see your coments sleemanj as they reminded me of my early days here when, just like shehe826, I was keen to go but didn't really know the ins and outs.

In the early days there were text tutorials, reading is my style of learning, these days we have video tutorials, not my style of learning and as a result, I haven't watched any of them.

I'm not suggesting we get rid of the videos but strongly suggest the text tutorials be added to the site.

Not everyone learns best one style of learning and as the text tutorials will not be difficult to reinstate, for the benefit of those who prefer to learn by reading, it should be done.

Hey cool thanks @sleemanj. Hadn't read that post till now - certainly would have helped if I did . Slowly got the gist of it over time.

With the low volume of trade on most ipredict shares it is quite hard to get good buys/sells especially on the short term stocks but hey its all part the game. Anyway once again cheers for your reply