Should we allow splits to be traded?

[SiteWolf]

OK, you may/may not have seen/participated in the discussion but we've talked some about allowing stock splits to be bought and sold...AT max shares.

IF we did it, it would be allowed at 100k max shares for those stocks, with stocks splitting to 1mil being either sold down to 100k max, as we have been, or even sold down so that they are no longer splits. That part isn't really my question tonight, however.

My question is....do you like that idea? Should we test that idea with NHL (since they're already set to 100k for amnesty anyway)? Or do you think it should be discussed further? Or you just don't like the idea...

Vote in the poll and add your thoughts if you'd like.

[SiteWolf]

Small quandry for me now....

I started NHL amnesty Saturday, forgot about ending it Monday night before the server maintenance thing.....and, since I'm one of the LAST people to regain access, currently NHL stocks are set to allow 100k buys.

...and we have mixed thoughts on doing this ongoing

so, at this point I'm thinking of allowing you to daytrade 100k shares of these stocks at least for the next couple days while we continue to discuss (rather than shut it off when some might have thought we WERE allowing them to be daytraded)

[hork]

okay so am I correct in assuming that 100k shares are in play? and if you should decide to retract that option you will of course let us know ahead of time so that we can buy back any shares we've sold off correct? just making sure no one ends up screwing themselves by missing out on the specifics.

[SiteWolf]

Originally Posted by hork

okay so am I correct in assuming that 100k shares are in play? and if you should decide to retract that option you will of course let us know ahead of time so that we can buy back any shares we've sold off correct? just making sure no one ends up screwing themselves by missing out on the specifics.

correct....for now, hockey 'amnesty' continues and, should we decide that is not to be ongoing, people will get at least a couple days' advance notice

[jbrune56]

I think it is working well so far, but activity would be encouraged even more if moo was turned back up for those splitters - even the larger volume would be more encouraging with a larger moo

[bballjer44]

Originally Posted by jbrune56

I think it is working well so far, but activity would be encouraged even more if moo was turned back up for those splitters - even the larger volume would be more encouraging with a larger moo

IMO raising moo is not a good idea.

[SiteWolf]

the moo will grow on it's own, now with quarterlies going/growing

I raised it rather noticeably earlier in January....but with only small monthlies and semi-active at best TV trading going, it didn't appear so

there will always be those who want the moo cranked and those who don't..........that's why I've been disappointed that more don't play Pick 10...basically a no moo monthly

[jbrune56]

the moo was raised for splitters too?

I am having trouble seeing why anyone would not want moo raised or made the same for splitters. I often make my buys in the morning, so evening buyers would do better, but I would gain on dormant ports and buy-and-holders, which is the most frustrating. Wouldn't it be better to do anything to encourage activity and reward active traders (20000 share max, PGA splitters in play, etc)?

[SiteWolf]

there is no difference in moo from one stock to another- split or not

moo is strictly a per share change....the only difference is, we put a cap on 'anti-moo' so that someone selling a bunch of splits (which we haven't had in a long time but occasionally was the way a person would say good bye, etc) wouldn't cause others to lose so many millions

[ProneEisenrott]

Originally Posted by SiteWolf

there is no difference in moo from one stock to another- split or not

I disagree. I bought 100k of a splitter and the price onlyy .07%, which is the exact percentage for a 10k buy of a non-splitter.

I think the moo has somehow been capped on a per-transaction basis rather than per share.

[SiteWolf]

Originally Posted by ProneEisenrott

I disagree. I bought 100k of a splitter and the price onlyy .07%, which is the exact percentage for a 10k buy of a non-splitter.

I think the moo has somehow been capped on a per-transaction basis rather than per share.

hmm....you know, you may be right....

Now that I think about it, I think it might be set up that moo/antimoo has it built into the code to be the same for shares over 10k as it is for 10k shares.....which is basically a cap per transaction

Fuzzy memories says I asked Shawn to work up code so this cap was only in place for sells, but now I remember...there's no excessive moo during amnesties, so....

[bballjer44]

Originally Posted by jbrune56

the moo was raised for splitters too?

I am having trouble seeing why anyone would not want moo raised or made the same for splitters. I often make my buys in the morning, so evening buyers would do better, but I would gain on dormant ports and buy-and-holders, which is the most frustrating. Wouldn't it be better to do anything to encourage activity and reward active traders (20000 share max, PGA splitters in play, etc)?

Dormant and buys-and-holders own everything, so they benefit from the moo. Anything that benefit them I am against.

[SiteWolf]

Originally Posted by bballjer44

Dormant and buys-and-holders own everything, so they benefit from the moo. Anything that benefit them I am against.

So, if a stock's price were reduced, say, .1% every day when the market resets at noon, would that make some sense? Yes, it would effect your holdings as well.....but, the more actively you trade, the fewer stocks you're holding at reset. And...if you're active, you won't hold offseason stocks because...they'll get dinged .1% every day when the market resets. If I hold everybody I'm getting dinged on near 2500 stocks...if you hold only inseason stocks and do some daytrading, you may only be holding 250.

No, it's not a lot...but it'd add up.

[bballjer44]

Originally Posted by SiteWolf

So, if a stock's price were reduced, say, .1% every day when the market resets at noon, would that make some sense? Yes, it would effect your holdings as well.....but, the more actively you trade, the fewer stocks you're holding at reset. And...if you're active, you won't hold offseason stocks because...they'll get dinged .1% every day when the market resets. If I hold everybody I'm getting dinged on near 2500 stocks...if you hold only inseason stocks and do some daytrading, you may only be holding 250.

No, it's not a lot...but it'd add up.

Dinging offseason stocks, I don't get it. Why should we sell everything because the season ends? Inseason a little easier to take, but I don't agree it is right to 'tax' holdings. A tax is on profits, not worth. As I have said for years, the problem is the neg divis are way too low, plus divis too high, and all stocks have an upward trend.

[rich76]

Originally Posted by bballjer44

Dinging offseason stocks, I don't get it. Why should we sell everything because the season ends? Inseason a little easier to take, but I don't agree it is right to 'tax' holdings. A tax is on profits, not worth. As I have said for years, the problem is the neg divis are way too low, plus divis too high, and all stocks have an upward trend.

"and all stocks have an upward trend"..that is true ONLY in the PGA sector bud.