S
SAF
South African Futures Exchange
Sector
The name for a group of securities or companies in the same market or industry.
Sell
You 'sell' a market if you think it will fall (if you are opening a new bet). You also 'sell' to close out an existing 'buy' bet.
Settlement (also see Expiry)
The process of a bet closing against a specified market level once the bet has gone beyond its last dealing time.
SFE
Sydney Futures Exchange
Shares
A unit of ownership, usually in a corporation, that entitles the owner to a share of profits in the form of a dividend.
Short Position
A position taken in anticipation of a falling market. To go short means to sell.
SGX
Singapore Exchange
Slippage
The difference between the level of a Stop order and the actual price at which it gets executed. Slippage can occur during periods of high volatility, when market prices move rapidly or jump from one price to the next. Guaranteed stops can be used to prevent slippage.
SOFFEX
Swiss Options and Financial Futures Exchange
Spot (also see Cash Price)
The price for a currency, index, commodity or share for immediate settlement or delivery.
Spread Bet
A type of speculation that involves taking a bet on the price movement of a security/underlying market, as opposed to actually investing in or owning the underlying security (as is the case with stock investment). Spread betting companies offer 2 prices known as the bid/offer (or bid/ask) spread. If you think that the underlying security price will increase, you can BUY the spread at the offer price. And if you think that the underlying security price will fall, you can SELL the spread at the bid price. Therefore by spread betting, unlike with conventional stock investments, you can not only can you benefit from rising stock prices, you can also benefit from falling stock prices.
Spread (aka bid/offer spread)
The difference between the buy price (offer) and the sell price (bid) for a particular bet. The offer is always the higher end of the price range quoted, and the bid price is the lower end.
Stock Index
A compilation of a number of stocks into one total price, expressed against some base value from a specific date, thus allowing investors to easily follow the performance of certain groups of stocks.
Stop Order
An instruction to deal if the price becomes less favourable; normally placed to prevent a loss of more than a certain amount of money.
Straddle
A term used to refer to a type of options strategy when investors hold both a call and a put position with the same strike price and expiration date. It is essentially a bet on volatility and not the direction of the price of an underlying securitiy, since the investor will benefit from a signiciant move in either direction.
Strangle
A term used to refer to a type of options strategy when the investor holds a position in both a call and put with different strike prices but with the same maturity and underlying asset. The strategy is used when investors believe there will be a large price movement in the near future but are uncertain of which way that price movement will be.
Strike Price
The price at which a specific derivative contract can be exercised. Strike price is most commonly used to describe stock and index options, for which the options contract stipulates the strike price of the underlying security.
Support Level
A term used in technical analysis, referring to the price level at which, based on historically performance, the underlying asset price has had difficulty falling below. It is considered as the level/price at which buyers tend to enter the stock. The opposing term is 'Resistance/Resistance level'.
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