The initial phase of a futures market, known as the opening period, is a crucial time when the price for each contract is determined through open outcry. This is a traditional method where traders vocally express their bids and offers to establish a fair market price. The opening period holds great significance in the world of finance, as it sets the tone for the trading session ahead. As a knowledgeable professor, I encourage you to familiarize yourself with this important concept in the world of finance.
