pretty interesting tidbid: the pit language and structure is highly specific and has developed built in redundancy to prevent misunderstandings. the word "for"

pretty interesting tidbid: the pit language and structure is highly specific and has developed built in redundancy to prevent misunderstandings. the word "for" typically only represents bids or purchases and the word "at" typically represents offers or sales. so you can sell AT price X, but you don't sell FOR price X (some people say it wrong, but old timers tend to hate it). typically to represent an offer you'd say "i'm [price] offered" or "i'm at [price]", but to represent a bid you'd say "i'm [price] bid" you'll notice he says "i'm offered AT [price]", but you wouldn't say you're bid "for" [price], you'd say "i'm [price] bid" additionally in transactions, you'd say: sell [quantity] at [price] pay [price] on [quantity] inverting the structure gives another sanity check when people are checking trades verbally. and those guys have insanely good memory, because they make these trades by word of mouth then card it (write up a paper slip) after the fact. when its busy, you can be carding trades up well after the fact and many trades later. in the pit