Шаг 3 из 6 курса «First steps for an investor»Программа курса →
Spread
The gap between the best bid and the best offer.
How to read the number
The spread is the price of immediacy: it is what entering and immediately exiting costs.
When the metric lies
In illiquid securities the spread widens so far that the phrase market price stops meaning anything.
Also known as: spread, bid-ask spread