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What is time and sales?
Time and sale, also known as a “tape,” is a record of all stocks traded during a trading day, usually including trade size, price, and trading time.
The tape gets its name from the mechanical ticker tape used in the late 19th and early 20th centuries. These machines are used to print stock prices on small strips of paper, as shown below:
Time and Sales
Traders use tape to determine changes in supply and demand in the market by developing an intuition for how the tape will move when such changes occur.
Transactions performed on tape are called prints. A printed document contains three important pieces of information:
Transaction execution time
The price at which the transaction is completed
Stock trading volume
In the example below, we can see that 108 shares traded at $213.21 at 1:27 p.m
Bid and asking Price
Bid and asking prices are critical to analyzing time and sales data. The bid is the best price the buyer is willing to pay for the stock, and the bid is the best price the seller is willing to accept for the stock.