What is the spread trail?
What it means and how to read it on a deal.
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What it is
A small line of the spread over the last ten delayed closes.
Also calledTrail
How to read it
The line rises when the spread widens (the price fell against the offer) and falls when it narrows. Each line is scaled to its own lowest and highest spread, so it shows one deal's shape and can't be compared between rows. Point at it for the first and last spread in words. It needs at least three closes.
From 6.2% to 4.2% over ten closes: the line falls as the spread narrows. Point at it, or focus it, for the words.
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