Price fluctuation is a description of price fluctuation, expressed in%. Price fluctuation = price fluctuation/yesterday's closing price * 100%. ? The value generated by comparing the latest transaction price (or closing price) of the current trading day with the closing price of the previous trading day is generally expressed as a percentage. In the China stock market, there is a limit to the rise and fall, so there is a saying of "limit to the rise and fall".
Calculation formula: (current latest transaction price (or closing price)-opening reference price) ÷ opening reference price × 100%
General situation: opening reference price = closing price of the previous trading day.
Ex-dividend date: reference price at the beginning = ex-dividend reference price.
Extended data:
The price limit board locks the maximum floating profit and loss and closing profit and loss that may be added by customers and member units on each trading day, which provides an objective and accurate basis for the exchange and member units to set the initial margin level and maintain the margin level.
So that the margin system of futures trading can be effectively implemented. Under normal circumstances, the margin charged by the futures exchange to its members is greater than the amount of losses that may occur within the fluctuation range, so as to ensure that the futures price will not be overdrawn when it reaches the upper limit of fluctuation on that day.
When there are abnormal phenomena such as excessive speculation and market manipulation, adjusting the range of price limit often becomes an important means for exchanges to control risks. For example, when there is a unilateral market with no continuous trading volume in the delivery month, the price limit can be reduced by appropriately reducing the range of the price limit, so as to control the losses of exchanges, member units and traders in a relatively small range.
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