trade for eights
v. phr.— «That was around the time the SEC brought charges against the brokers for the practice—called “trading for eights,” or flipping. But when the flipping case came to trial, the NYSE didn’t testify in the traders’ defense.» —“Big Board Wasn’t Always A Stickler On ‘Rules’” by John Crudele New York Post (New York City) Oct. 17, 2006. (source: Double-Tongued Dictionary)
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Is this trading for “eights”, or rather trading for “eightHs”? Remember, just a few years ago, before going to pricing by the penny (or hundredths), stock prices were usually listed in eighths, or 12.5 cent increments.