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)
Further reading
Carl in Sebastopol, California, was reminded of his childhood on New York’s Lower East Side while ready Harry Golden’s book For 2 Cents Plain (Amazon), the title referring to how customers ordered a plain glass of seltzer. For a little...
If you’re in a book club, how do you decide what books to read? There are lots of different ways, depending on your group’s goals. And is it ever wise to correct someone who mispronounces a word? Sometimes you have to decide if...
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.