What is 100 handles equivalent to?

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

thanks

 

Handle = Car = Full point

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

 

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

 

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.

 

My bad, it's the weekend

Indeed, car = contract

 

SPX closed at 1411.63 on 1/5/08.

So 100 handles below the index is 1410.63?

 

A hundred handles lower I would think means 1311.63.

 

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!

 

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