Cheap and expensive

The two halves of a range have names. Above the middle is a premium, below it is a discount, and the reason is the same reason anybody prefers a lower price.

The middle line splits the range into two halves. Those halves are not the same thing to a buyer, and they are not the same thing to a seller.

The upper half is a premium

Everything between 2,413.50 and the 2,431 high is the top half of that move.

Traders call it a premium, meaning the expensive half. Any price in there is closer to the highest price the move reached than to the lowest.

Above the middle, price is expensive relative to the move it came from.

The lower half is a discount

Everything between the 2,396 low and 2,413.50 is the bottom half.

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