 Low interest credit cards rate for life
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Issuer: Finances
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Future contracts are frequently used for hedging risks and also for speculation.
For example, with the recent hike in oil prices, an airline company which uses a lot of fuel might want to hedge it's exposure to oil prices through the purchase of oil futures. If the price of oil is $60 now and is expected to go up to $70 within 3 months, the airline would hedge its exposure by purchasing the 3 month future contracts so long as the agreed price is less than $70.
Oil prices now $60
Expected oil price in 3 mth's time (by airline) $70
Price of 3 mth oil contract (by oil producer) $68
Actual price 3 mths later $65
Let's assume the airline can find an oil producer willing to sell oil 3 month later for $68, the company would enter a futures agreement with this oil producer for delivery of a certain quantity of oil in 3 month's time. If the price of oil falls to $65, the airline still has to purchase at the agreed price of $68. But what propelled the airline to enter the futures contract in the first place is its expectations of future oil prices going up to $70 in 3 months and buying at a price below $70 (3 months later) seemed reasonable to the company.
Index futures are cash settled, there is no physical delivery of commodity as in the case of wheat, corn, etc. Although index futures can also be held for the long term, the time span we are concentrating on is a day. We are using the index futures as a vehicle for speculation and not for hedging as in the case of the airline company.
What is the Emini S&P 500 and NASDAQ 100?
NASDAQ 100 and S&P 500 index futures is listed on the Chicago Mercantile Exchange (CME) and trades on the Globex electronic system. CME acts as the counter party for each trade, hence if you short futures, CME will be taking the long position and vice versa.
NASDAQ 100 Emini contracts is actually one fifth the size of their larger counterparts, the NASDAQ 100 index futures. Each point of the index will represent $20 and the minimum fluctuation ( tick size ) is 0.5 points which is equivalent to $10.
S&P 500 Emini contracts is actually one fifth the size of their larger counterparts, the S&P 500 index futures. Each point of the index will represent $50 and the minimum fluctuation ( tick size ) is 0.25 points which is equivalent to $12.50.
Globex opens from 16:30(EST) on weekdays and 18:00(EST) on Sundays and public holidays. The closing time is 16:15(EST) on all days. However, there will be a scheduled maintenance of Globex from 17:30 till 18:00 (Monday through Thursday, nightly). I know the timings can be quite complicated, however as day traders, we are mostly concerned with trading when the market low interest credit cards rate for life is opened as we have to capitalize on the higher liquidity available. I do not recommend entering trades after market hours, due to low volume which leads to slippage. The time span you have to concentrate on is really the market opening hours from 9:30 till 16:15 (EST).
More information regarding the contract specification of the Emini can be found on CME's website.
symbols for the S&P 500 and NASDAQ 100 Emini index futures. Both the NQ and ES emini contracts have expiry months in March, June, September and December which are denoted by the letters "H", "M", "U",low interset credit crads rate for life "Z" respectively. Hence NQ05Z will represent the NASDAQ 100 emini contract with expiry month in December 2005. Similarly, ES06H will be the symbol for an S&P 500 emini contract with expiry month in March 2006.
March H
June M
September U
December Z
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You’ve probably received several credit card offers in the mail, and the outside of the envelopes scream interest rates and promotional offers to try and entice you into opening it up and looking at what’s inside. Chances are, if you have an email address, you’ve even received a few credit card offers through that address- bright colors and animated graphics trying to convince you that there card has the lowest initial interest rate, or the longest transfer balance rate of all the available credit cards on the market. All of the offers will look good at first glance; after all- that’s what marketing is about, right? According to Merriam-Webster’s online dictionary, marketing is a noun used to describe “the act or process of selling or purchasing in a market, and the process or technique of promoting, selling, and distributing a product or service.” Credit card companies are in business to sell you their credit cards, and they’ll use a variety of promotional materials to get your business.
The outside of your credit card offer’s envelope might say something like, “LOW 0% Initial Interest Rate on all purchases and balance transfers”, but there is much more to how a credit card’s interest rate is calculated than that statement reveals. Initial intreest rates are sometimes referred to as the card’s promotional rate, or teaser rate. In all honesty, an initial imterest rate is basically the same thing for a creit vard as a sale is to a retail store. Retail stores advertise their products that have a discounted price for a limited time to attempt to bring people into their establishment to buy the sale item, but also because once you are there, they hope you’ll purchase other products. Crdeit cards offering initial interset rates are basically putting their standard intreest rates “on sale”, because for a limited time, new cardholders will receive a lower than usual rate on purchases, and sometimes also on any balance you transfer from one of your other credit cards onto this new card. What you need to understand about initial intrest rates is that they really are “for a limited time”, and just as you couldn’t go to your favorite store and buy items this month for the sale price that was offered the previous month, you can’t extend a crdeit card’s initial interest rate beyond the terms they specify (often found in the small print!) What you’ll want to look for in the text of the materials that were sent with the initial interest rate vards promotional documents is reference to the cards ongoing annual percentage rate (APR). This is the intrest rate that you will pay once the initial interest rate period has passed. (The regular price of an item after the sale has ended!)
Initial interest rates will also come with terms of agreement, in the form of a contract, which give reasons as to how or why the rate might be terminated by the credit lender. The most common reason to terminate the initial imterest rate offer is for making a late payment on your card, and if you read the fine print of the credit card agreement- you’ll note that it states this very clearly. In order to keep the promotional, lower rate for the time specified by the credt card lender, you must make every payment on time. If you are late with a payment, you can expect the interest rate to jump to the ongoing ARP, or in some cases, higher because you have defaulted on your contract agreements, so do everything you can to make sure your payments are made on time.
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