What is 100 handles equivalent to?

Discussion in 'Trading' started by matador04, Jan 5, 2008.

  1. Heard the term a few times, but never inquired on its meaning.

  2. Handle = Car = Full point

    eg. eminin SP 4 ticks = 1 Full Point = 1 Car = 1 Handle
  3. Surdo


    CAR = Contract
    1 Handle = 4 ES ticks = 10 SP ticks
  4. rwk


    I believe that is correct. The meaning of point is often ambiguous, and ambiguity is usually bad. Some people mean 1.0 (a handle), and some people mean 0.01 (a basis point).

    I think the term car, denoting a contract, comes from the fact that most ag contracts fill one [train] carload.
  5. My bad, it's the weekend:)

    Indeed, car = contract
  6. SPX closed at 1411.63 on 1/5/08.

    So 100 handles below the index is 1410.63?
  7. rwk


    A hundred handles lower I would think means 1311.63.
  8. Surdo


    SPX is the S&P CASH index, and 100 handles lower is indeed 1311.63.

    SP or ES is the tradeable index and closed @1422.20/1422.50 respectively, just to further confuse you!
  9. ES is the E mini, SP is the larger brethren, right? ...this is what happens when you spend too much time trading options and not enough futures