When the ticker stop
Who won? Who lost? Who'll live to fight another day?
When the clock ticks to 4:00 p.m at the Boston Stock Exchange in the heart of the Financial District, traders and buyers calculate the losses and gains. It's a like a moment of truce after a day-long war and the variety of the expressions on the traders' faces reveals the mental journey of their day. Who won? Who lost? Who'll live to fight another day? Stock traders are unlikely to go home for dinner after the closing time, because the markets don't actually close.
"4 p.m. is not the end of the market,"
said by Jeremy Z. Yang, who holds a doctorate in economics from MIT."Options usually end at 4 p.m. but stocks can be traded after that time."Stock options are the right to buy or sell stock and other financial goods at a fixed time in the future, in effect, placing a bet on whether the stocks will rise or fall. The fluctuation of options can be huge and often happens quickly."
For Yang, the period between closing time and the next day's opening time is his concern. "[My feeling at the closing time] depends on the performance of the stock that day, but I'm quite nervous when the market opens," he adds, explaining that the price of the stock will also affect the price of the options.
Newbies always tend to be anxious in a world that varies from minute to minute but it does not apply to investors who have been chronically soaked in the market.
Jie Zhu, a software engineer who has two years' experience investing in the stock market explains
"I was nervous and would staring at the board every day when I start buying stocks, but now there are no waves in my heart."
Zhu said right now he seldom looks at the stock not to mentioned to notice the price fluctuation time by time. "For me, it is not a short-term investment plus I have no other places to use money," he added that as an investment method, the stock will definitely contribute long-term profits for him.
The New York Stock Exchange (NYSE) has set the opening bell and closing bell since the 1980s, but only NYSE uses an actual bell to show the end time. So, how do Boston ring the closing bell at 4 p.m.?
"(It matters) If I've to close out my book by the end of the day if I don't have to do that then it doesn't really matter to me," said by Andy Wu, the assistant professor of Business Administration at Harvard Business School.
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