The order book is the live list of every open buy and sell order in a market, grouped by price. It shows how many contracts people want to trade at each level.
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Order Book: The order book is the live list of every open buy and sell order in a market, grouped by price. It shows how many contracts people want to trade at each level.
What it means
The order book is the live list of every open buy and sell order in a market, grouped by price. It shows how many contracts people want to trade at each level.
Example
If the book shows 500 YES contracts bid at 40¢ and 300 offered at 42¢, you can buy up to 300 right away at 42¢. Buying more pushes you to the next, higher price.
Practical tip
Check the book before you trade, not just the last price. A thin book means small orders can move the price and you may pay more than you expected.
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