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Very inaccurate Quote prices on the Volatility Index
Asked by
Guest Geremy,
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By Smilezcryt · Posted
DogeDay always brings back memories of 2019 when my friends were diving into Dogecoin and joining farming activities. That's why I'm excited to explore the Bitget DogeDay giveaway event. Plus, with tomorrow's BTC halving, the excitement is doubled! -
As a meme fan, I have been waiting patiently for the Bull trend that happened to BTC recently to get to all the alts and so we can have what we had back then in 2021 to happen again, but time the strength of the uptrend has not been able to match up with what I am expecting and I do hope that the halving will help, but looking at the hype that is usually expected from the meme community. I don't think I'll be able to wait for the trend to resume and so I am taking more steps ahead of the game, taking up all the opportunities I believe would help the price-trend of my holdings, especially for the DOGE memes and I have found this DOGEDAY event ongoing and it really made a lot of sense to me, because if we look at how the DOGE coins have performed in the past. I believe if we can have a Bitcoin day to celebrate the first cryptocurrency, then we should be able to have a DOGEDAY too looking at the success rate of the meme and the support from the community. For me, this is something special that is worth the energy, vibes and hype and worth participating it. There are different sections to the event, which include the Twitter part, where Bitget is sharing $3,00 to those participating( https://twitter.com/bitgetglobal/status/1780495739984150962Twitter Post ) and the telegram event, and I believe this will favour those that love to bet on the price of coins. They are sharing 100BGB tokens for this and the Discord event has a 90BGB token to be shared. If we can have Bitcoin's day, then this DOGEDAY should be observed in all the DOGE communities and I will admonish meme lovers to observe events like this because it reflects the nature of memecoin and the hype around it.
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Will grab at a little lower price...
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Question
Guest Geremy
Hi Guys,
First post here, sorry if this is all just incorrect, but before I lodge a proper support ticket I just wanted to see if anyone from IG or the community could explain this to me.
I went long on the Volatility index 2 days ago, as it was at a low price and I was anticipating losses on the S&P 500.
When I was writing my trading plan I could not find anywhere on the IG website where is categorically stated that this Index was the VIX. So I rang IG to confirm and they emailed me in writing that it was "The VIX".
When I bought the price withing the next day I was down about $1000 USD which did not match my calculations.
I then noticed the difference in price between the IG product and other charts and index price data.
I rang and chatted to IG enquiring why the prices were different.
After discussing with someone on the phone we came to the conclusion it was because the data from IG is "Live" and what I was looking at was delayed by 15min. Ok awesome, problem solved. Use IG data.
Then yesterday I went Long again for similar money at an even lower price.
I have watched in anticipation as the S&P has fallen over 1% today and was expecting my Position to be just over 10k.
When it only breached 5k at 15 points I was very confused.
What I have now discovered is that the pricing mismatch on the live quote, while different by 15 minutes from the index price data available on the internet, was grossly different from the underlying index price.
I have gone back and done a comparison of the prices when I purchased and the prices as they are currently.
IG's price is currently UNDER-QUOTING the index price by approx 1%. Not fantastic in my opinion, but explainable by different data sources and aggregation points.
IG's price when I bought the stocks, were OVER-QUOTING by 14.8% and 19.8% respectively.
I have attached screenshots of all the pricing and my calculations. I'm simply not sure how I have missed out on my first large windfall with IG.
Sorry the calculations are a screenshot, I could not upload an Excel File.
Thanks
Geremy
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