Tick Size Definition

Tick Size Definition

What Is Tick Size?

Tick size is the minimum price movement of a trading instrument. The price movements of different trading instruments vary, with their tick sizes representing the minimum amount they can move up or down on an exchange. In U.S. markets, the tick size increment is expressed in terms of dollars.

How Is Tick Size Measured?

In modern trading, tick sizes generally have a basis of decimals. Up until 2001, however, U.S. stock markets expressed tick sizes based on an underlying system using fractions. For most stocks, that fraction was one-sixteenth, so a tick size represented $0.0625.

This somewhat ungainly fraction stemmed from the New York Stock Exchange, which first modeled its measurements on a centuries-old Spanish trading system that used a base of eight, or the number of fingers on a person’s two hands—minus the thumbs since they aren’t considered fingers. The tick size for some thinly traded stocks was one-eighth, or $0.125.

The U.S. Securities and Exchange Commission (SEC) now requires all U.S. exchanges to use hundredths, which is why the tick size today is $0.01, or one cent, for most stocks, though it recently experimented with larger tick sizes for some smaller-cap stocks.

Futures markets typically have a tick size that is specific to the instrument. For instance, one of the most heavily traded futures contracts is the S&P 500 E-mini. Its tick size is 0.25, or $12.50. That means if, say, the March 2019 contract’s current price is $2,553 (as it was as of Jan 7, 2019), and someone wanted to offer more for it, they would have to bid, at a minimum, $2,565.50. However, other index futures can move as little as $10, and some $5.

Real World Example of Tick Size

On Oct. 3, 2016, the SEC started a two-year pilot program to test the potential benefits of larger tick sizes for stocks with closing prices of $2 or greater, market capitalizations of $3 billion or less, and consolidated average daily volume of 1 million shares or fewer. The Tick Size Pilot Program period ended on Sept. 28, 2018, although data collection and reporting requirements were set to continue for six more months.

The test collected data, including the profit margins of market makers in these securities. As part of the test, the SEC separated a sample of small-cap securities into one control group and two test groups. According to the SEC, each test group included about 400 securities, with the remainder placed in the control group.

The first group in the test used tick sizes of $0.05, although stocks in this group continued to trade at their current price increments. The second group also quoted tick sizes of $0.05, and traded them in these increments, although it included a small number of exceptions to this general rule.

The third group quoted in $0.05 increments, trades in $0.05 increments, though a rule prevented price matching by trading organizations that do not display the best price unless an exception applies. Securities in the control group continued to trade at $0.01 increments.

Results of the Tick Size Pilot

While it was merely a test, some retail brokers and traders criticized the study, arguing that a move to $0.05 tick sizes benefited market makers by potentially raising trading margins at the expense of individual investors. A white paper on the plan, “Tick Size Pilot Plan and Market Quality,” released in January 2018, found that stocks in the test groups experienced an increase in spreads and volatility and a decrease in price efficiency, relative to stocks in the control group.

The exchanges and FINRA submitted to the SEC a publicly available joint assessment of the impact of the Tick Size Pilot in July 2018.

www.investopedia.com

20 Famous Big Dicks

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We’re not size queens or anything but the HBO comedy Hung —about a man (Thomas Jane) with a large penis—premieres in June, and it got us thinking about big penises, the ultimate status symbol for men*. After the jump, a list of famous ones.

1.) Rasputin**
The Russian mystic’s disembodied penis is on display at the Russian museum of erotica in Saint Petersburg, in a tall jar, measuring 11 inches—flaccid.

2.) Liam Neeson
In her autobiography No Lifeguard on Duty, Janice Dickinson wrote of her ex-boyfriend Liam Neeson, saying he had «the biggest penis of any man alive. He unzipped his pants and an Evian bottle fell out.»

3.) Jay-Z
Accounts from several different groupies say that Jigga is well endowed, «The biggest dick you will ever see in your life, but boring. Huge. Like a one-liter Pepsi bottle. What do you call those things? The 20-ounce bottle. It’s beyond huge. It could block the sun.»

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4.) John Holmes
Even though he had one of the most celebrated dicks in porn history, due to its size, there’s no real documentation of his measurement. His manager claimed he was 13.5 inches, but Holmes’ first wife said he measured it in front of her, before he started doing adult films, and it was 10 inches.

5.) Vincent Gallo
Have you ever seen Brown Bunny ? (Link NSFW)

This rumor about how large his dick was has been around for a while, and at his Friars Club memorial in 2002, his friends joked about his size.

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7.) Wilt Chamberlain
His nickname was «Big Dipper.» He claims to have gotten a lot of use out of it.

8.) Tommy Lee
Thanks to the sex tape with then-wife Pamela Anderson, everyone has seen Tommy’s peen . It’s guesstimated to be about 8 inches, erect. (Link NSFW)

9.) Frank Sinatra
Ava Gardner once said of her ex-husband, «He only weighs 120, but 100 pounds is cock.»

jezebel.com

Critter Cities: America’s Top 10 Towns for Pest Infestations

Cities are bursting with life—too much of it, sometimes. Just ask James Vahter, a video producer who set up shop a few years ago in a trendy part of Manhattan’s Lower East Side. He got a sweet deal on a spacious, two-bedroom, fifth-floor walk-up, but it didn’t take him long to understand why the rent was so cheap. It happened a few weeks into his stay, when he returned from a business trip in the middle of the night and flipped on the hallway light.

«My walls were crawling,» he recalls. «From the floorboards to the ceiling, cockroaches were everywhere. I ran to the kitchen to grab some Raid—and the counters were crawling too.»

Welcome to the epic battle between city dweller and vermin. In Vahter’s case, he was able to wriggle (sorry) out of his lease and retreat to the suburbs. But not all urbanites are lucky enough to have the option of a happy ending.

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From water bug traumas to Pizza Rat videos, pests are a terrifyingly common part of American life. In 2015, about 11% of U.S. households had encounters with rats or mice, and 12% with cockroaches, according to the Census Bureau’s newly released American Housing Survey. And, of course, those numbers increase exponentially in high-density metro areas.

Vermin nation

Some creepy creature populations are very much on the rise. There has been a 7% increase in complaints about rats in New York from 2015 to 2016, and a 16% uptick in Boston. Not squirming yet? A recent report by the pest-control company Orkin found a steep rise in bedbug incidents nationwide, to near-epidemic levels in many cities.

“We have more people affected by bedbugs in the United States now than ever before,” said Ron Harrison, an entomologist and director of technical services at Orkin, in the report. “They were virtually unheard of in the U.S. 10 years ago.»

Antwinette Clurksy, 64, endured living with bedbugs in her one-bedroom Houston apartment for more than three years. They were under the carpets, on the mattress—everywhere.

«I would be sitting on the couch, and I look up, and they’re crawling on me,» Clurksy says. She had red bite marks all over her body. Eventually, she had to sleep on the floor after throwing away her mattress, along with the sofa and dining table, because of the infestation.

Despite this and other horror stories, not all cities are equally affected by the onslaught of pests. In Seattle, for example, less than 1% of homes have a roach problem.

To figure out which cities are most under siege by critters with four or more legs, we used the rat and cockroach data from the American Housing Survey, as well as data about mosquitoes, termites, bedbugs, fleas/ticks—and, hey, scorpions, too—collected from other sources.*

What makes some cities more attractive to pests than others? The Northeast has an infamous rat problem—the chilly winter months drive the multitude of rodents in search of shelter, warmth and food. And the South is plagued by insects. Big insects.

«The warmer climate in the Southern states increases the ability to support insects for longer periods of time,» says Michael Raupp, an entomologist from the University of Maryland. «Insects are usually killed by the coldness, but since it rarely reaches lethal temperatures [freezing point] in the South, cockroaches and bedbugs remain active for a longer time out of the year.»

So where does your city rank on this ignominious list? We doused our data team with copious amounts of Off and turned them loose to find out. Let’s get crawling!

1. Houston, TX

Houston gets a big tentacles- and claws-up from several species of pests, including cockroaches, rats, mosquitoes, bedbugs, and termites. It’s the pest capital of the United States! Why? The warm, humid climate and huge human population (people=trash=delicious food!) offer a luxury spa for vermin, according to Steve Durham, president of pest control company EnviroCon in Houston. About two in five households reported seeing cockroaches, making it the second-worst city for the ubiquitous bugs after New Orleans, according to the American Housing Survey.

«In Houston, I have seen multiple times when there were thousands and thousands of roaches,» Durham says. «You can’t believe how some people just don’t clean [their homes]. Roaches multiply very fast—every roach egg has 32 babies, and those 32 babies will each have 32 babies.» Yuck.

2. New York, NY

No one knows how many rats live in New York, but estimates range all the way from 2 million to 28 million—and that high estimate would mean that there are almost four rats for each human in the most populous city in the nation. The city that never sleeps! Traps have been set, poisons brewed, and volunteers have relocated stray cats to rat-infested areas, according to the New York Daily News, but rats seem to be winning this war. How about we just give them Staten Island and call it even?

«In New York, a lot of architecture was designed without pest control in mind,» explains Taylor Falk, environmental analyst from M&M Environmental. The alleyways, dumpsters, and garbage are very close together. . When there is food and areas to move around, there are rats.»

Mice and rats are talented climbers, Falk says, and sometimes even climb high-rises through the utility systems (like hot water pipes).

And just like in the city’s alleys, rats and cockroaches battle for dominance overall. Rats were found in 15% of homes, cockroaches in 16%.

3. Washington, DC

The District of Columbia is ranked the second-worst city for bedbugs by Orkin, while nearby Baltimore took the top spot. Blame the area’s huge influx of international travelers. Diplomats, tourists, and businesspeople (and their baggage) are practically VIP shuttle services for bedbugs, says Raupp, of the University of Maryland. Washington’s mild climate also helps bedbugs survive.

«The problem is that many of the materials we used to treat bedbugs are no longer available, due to EPA regulations. So there has been a large insurgence,» says Dannis Warf from Royal Pest Control. «They aren’t just in homes, but also in movie theaters, public transportation, libraries, even hospitals.» The pests even invaded the DC Department of Health in 2012.

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And although Washington is often criticized for its «fat cats,» rats are a major problem. In fact, there’s even a Yelp page dedicated to a well-known park, satirically labeled as «Dupont Circle Rat Sanctuary.» One review reads, «Wonderful place for 100% organic, free-range rats to frolic in a safe environment without predators.»

4. Atlanta, GA

Warm climate? Check. Wet summers? Check. Swamps and forested areas? Check. Perhaps nowhere can mosquitoes find a better breeding ground than Atlanta. There are about 45 kinds of mosquito living in the Southern city, according to Elmer Gray, a professor of entomology at the University of Georgia. And some species can carry West Nile and Zika viruses. Last summer, there were 77 cases of Zika in Georgia, according to Georgia Health News.

5. Philadelphia, PA

A total of 18% of Philly households have seen rats, making Philadelphia the rattiest city in America. The city’s huge swath of old row houses make it easier for the nimble animals to find holes in the walls and move, Habitrail-like, from one family to another.

«Philadelphia also has a very unseasonably warm winter this year, so the rats are growing more than usual,» says Royal Pest Control’s Warf.

6. Miami, FL

We love Miami’s year-around steamy weather. Unfortunately, so do cockroaches, mosquitoes, and termites. Florida has six invasive termite species that swarm alternately throughout the year, feasting on anything made of wood. By 2040, half of the structures in South Florida will be at risk of termite infestation, according to a study by the University of Florida.

«It’s hot, it’s humid, it rains a lot, and we have a lot of wooden-structure homes, as opposed to concrete-structure homes,» says JC Riverol from Spray’em Dead Termite & Pest in Miami.

The average cost to homeowners to repair termite damage is $3,000, but that can vary widely, depending on the extent of the damage, according to Termites.com.

7. Tampa, FL

The good news about Tampa is that it’s practically rodent-free; the bad news is, cockroaches won’t leave you alone. Ever. They are present in an alarming 38% of homes. They flock to Tampa like retirees, and get comfy in the kitchen, under the palm trees, and inside the gazebos.

Pet owners in Tampa also need to keep an eye out for fleas and ticks, which love the warm temperature and year-round humidity. These tiny insects usually don’t mess with humans, but they cling to the skins of dogs and cats, transmitting diseases like Lyme disease, Rocky Mountain spotted fever, and tapeworms.

8. Nashville, TN

With plenty of old structures to roam through, the Music City offers rats a comfortable habitat. Winter’s low temperatures of 30 degrees send rats scurrying into people’s homes for warmth and food, and the humid summer provides perfect conditions for breeding . Brown rats are the most common in Tennessee. One of the largest rat species, they can grow to an incredible 15 inches or more in length. (Silent scream!) Each year, there are also 50 snakebites reported in Tennessee, according to the Vanderbilt Medical Centers.

9. Phoenix, AZ

Phoenix residents have something scarier than garden-variety roaches to contend with: scorpions. Native to the arid Arizona desert, the bark scorpion is the most venomous scorpion in the United States, and is the culprit in most scorpion bites in the state. Arizona’s two poison-control centers report about 12,000 scorpion stings in the state each year.

Most scorpion stings go away after a few hours, unless you have a serious allergy—in which case you need to head to an ER, pronto. Better bring the American Express, too. In 2012, Marcie Edmonds was stung by a scorpion and billed $83,000 for anti-venom, the local CBS news station reported.

«The valley was the natural habitat for scorpions. Then humans came in and destroyed their habitats, to build concrete walls and buildings. But scorpions like concrete walls,» says Ben Holland of Scorpion Sweepers, a pest control company. «So we destroyed their habitat and built something even better.»

10. Boston, MA

In 1917, the Boston Women’s Municipal League spearheaded a sweeping extermination campaign against the city’s proliferating rats, leading up to the first (and, to date,only) Rat Day, when residents were offered prizes for the largest number of rat carcasses turned in. A century later, the city is still battling rodents. The long, cold winter of New England forces ’em to creep into people’s homes for warmth and food. Last year, the Boston Inspectional Services Department received more than 3,500 rodent complaints.

The city adopted a rather innovative measure: dropping dry ice into rat burrows so that rats will suffocate. The method was proven to be effective, although it was temporarily stopped by the EPA last December because dry ice wasn’t registered as a pesticide, according to a report by the local CBS station.

* Data sources: American Housing Survey, Orkin, Terminix, Eastern Arizona Courier, Hartz

www.realtor.com

Jonah Falcon, Man With World’s Largest Penis, Frisked By TSA At California Airport

Turns out it’s legal to have a weapon of mass conception at the airport.

Jonah Falcon was stopped and frisked by the TSA at the San Francisco International Airport on July 9 because of a bulging package hidden in his pants. But the 41-year-old New Yorker wasn’t packing a dirty bomb, drugs or a Costco-sized tube of toothpaste. The New Yorker has the world’s largest recorded penis.

In an exclusive interview with The Huffington Post, Falcon described his hard times with security guards after his extra carry-on became suspect.

«I had my ‘stuff’ strapped to the left. I wasn’t erect at the time,» said Falcon, whose penis is 9 inches flaccid, 13.5 inches erect. «One of the guards asked if my pockets were empty and I said, ‘Yes.'»

Falcon said he knew that his interview was about to get a lot more personal when he was led through one of the X-ray body scanners and passed a metal detector.

«Another guard stopped me and asked me if I had some sort of growth,» Falcon said, laughing.

Indeed he did have a growth.

By the age of 18, Falcon knew he had something special when his manhood reached a whopping 12 inches. His family jewel was hailed as the world’s largest on record after an HBO documentary featured him in 1999. The Guinness Book of World Records does not record such feats, but Falcon did show his standout feature to Huffington Post Executive Crime/Weird News Editor Buck Wolf.

PHOTOS of Jonah Falcon (story continues below):

Falcon has been contacted by porn companies (though he’s never accepted) and has been featured on just about every talkshow in the country.

As he passed through airport security, Falcon said a younger security guard felt threatened by his «very noticeable» package — and interpreted it as a biological threat.

«I said, ‘It’s my dick,'» Falcon said. «He gave me a pat down but made sure to go around [my penis] with his hands. They even put some powder on my pants, probably a test for explosives. I found it amusing.»

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The screener gave up the extensive search without so much as a blush or a smile. Falcon made his flight back to New York on time.

But he learned something that day. The hardened traveler has a new game plan for airport security.

«I’m just gonna wear bike shorts from now on,» Falcon said. «That way, they’ll know. You’d think the San Francisco TSA would have had experience with hung guys before, but I guess not.»

TSA officials at the San Francisco International Airport did not return calls for comment.

www.huffpost.com

Meet the World’s Biggest Snakes

Love them or hate them, there’s no denying that snakes are an impressive bunch of reptiles. These critters have existed for millions of years, are able to survive in an array of climates and are found on every continent except Antarctica.

But which species of slithering reptile is the hardest to overlook? While there are several contenders for the title of world’s largest snake, here are three of the biggest and longest snakes known to man:

Weighing in at 550 pounds, the aptly named giant anaconda (Eunectes murinus) is the largest snake in the world considering its length-to-weight ratio. This species, also known as the green anaconda, averages about 17 feet in length, though some individuals grow to as long as 30 feet.

And this aquatic monster has been known to measure as much as three feet around the middle. But don’t worry: Giant anacondas don’t bite. Instead, they kill their prey by suffocating or drowning it.

Growing up to 30 feet long, the reticulated python (Python reticulatus) of southeastern Asia and the East Indies is the longest snake in the world. These giants have an average weight of 250 pounds, but the largest known specimen in existence weighs in at a whopping 350 pounds.

Unlike anacondas, these snakes bite their prey and swallow it whole, after squeezing it to death — slowly. Despite their unpredictability, pythons are popular pets for exotic snake owners. Medusa, a captive reticulated python in Kansas City, Mo., earns her keep as part of a haunted-house exhibit.

But neither the sprawling python nor the giant anaconda can hold a candle to their prehistoric predecessor, Titanoboa cerrejonensis. The fossilized remains of this 42-foot-long, 2,500 pound monster were unearthed in Colombia in 2009.

Scientists used the mathematical relationship between the size of vertebrae and the length of the body in living snakes to determine the ancient snake’s mass. These reptiles are believed to have slithered around the Earth from 58 million to 60 million years ago.

Follow LiveScience on Twitter @livescience. We’re also on Facebook & Google+.

www.livescience.com

How to Keep Mosquitoes and Ticks Away

Ward off these insects and bugs from your deck, yard, and clothing

Cases of tick-borne disease are on the rise in this country, according to the Centers for Disease Control and Prevention. And new diseases continue to emerge—since 2004, scientists have identified nine new tick and mosquito-borne diseases in the U.S., including Zika virus. That means protecting yourself from bug bites is as important as ever this summer.

Wearing an effective insect repellent on your exposed skin will be essential. But so is bugproofing your yard and deck, and choosing the best possible clothing for hiking, picnicking, and other outdoor activities.

“The most important thing is to avoid getting bitten in the first place,” says Rebecca Eisen, Ph.D., a research biologist with the CDC’s National Center for Emerging and Zoonotic Infectious Diseases. “Fortunately, there are really simple things you can do to protect yourself and your family.”

Below is a list of recommendations from our own experts and testing, and from the CDC, on how to have a bug-free summer.

Your Deck and Yard

Mosquitoes: According to the CDC, the most important thing you can do to keep mosquitoes out of your yard is to eliminate their preferred breeding grounds. Keep your gutters clean, and your birdbaths, old tires, wheelbarrows, and swimming pool covers free of standing water. Clear away ivy and decaying leaves, too.

As far as your deck or patio are concerned, some repellent products work much better than others. Our tests of two area repellents—citronella candles and a battery-powered diffuser that blows out geraniol—showed they were ineffective at keeping mosquitoes away. An oscillating pedestal fan did much better. When set on high, it cut mosquito landings by 45 to 65 percent for the people sitting close to it.

Mosquito traps that use fans, electric grids, or adhesive pads to capture and kill mosquitoes are also somewhat effective. (They often attract mosquitoes, and they kill the ones that come into contact with them.) But the American Mosquito Control Association (AMCA) says it’s unclear whether that translates into a noticeable reduction in the overall mosquito population because new mosquitoes can move in fairly quickly to fill the void.

You might also try using LED or yellow lightbulbs on your porch and around your house.

Our safety experts warned against yard foggers or misters that spray insecticide. “You might inhale the chemicals, some of which have been linked to serious health problems, including endocrine disruption and neurological effects,” says Michael Hansen, Ph.D., Consumer Reports’ senior scientist.

Ticks: They like tall grass and lots of shade. So keep your lawn mowed, remove leaves and other debris, and try to let as much sun into your yard as possible. Consider putting up a fence around your property to keep out deer and other large animals that can carry ticks. And don’t forget to check your pets for ticks after they have been romping outside.

Stinging insects: “For the most part, bees and wasps will leave you alone if you leave them alone,” says Stanton Cope, Ph.D., a former Navy entomologist and former AMCA president. Nests should be removed only if they are in high-traffic areas, Cope says. If you can, wait until the fall or winter, when the nests are abandoned. If you need to remove them sooner, do it early in the spring, and early or late in the day, when the insects are less active.

Insecticide powders or sprays might be necessary, but follow directions and keep pets and children away. Always wear head-to-toe protective clothing, and never remove nests if it requires standing on a ladder; call a professional instead. Traps with the chemical heptyl butyrate may help control bees.

www.consumerreports.org

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