Currently, hand signals are used to convey the three essential elements of a futures or options trade: * Whether one is buying or selling. This is a simple gesture. If you are buying, put your hands out in front of you, palms facing in, and pull your hands towards you (as if you were pulling the shares you want into your chest.) For selling, do the opposite: place your hands in front of you palms out, and push your hands away from you (as if discarding of your shares.) For options: The universal "okay" signal (index finger to thumb, other fingers outstretched) is used to place put orders, while making a letter "C" with your hand indicates a call. * The price at which to buy or sell. The signal is simple; the interpretation, less so. Options, securities, and futures generally trade at prices in the double digits: 61, 73, 19, etc, and a one or two point shift can be considered a major move. Thus, traders only indicate the last digit of the sale price, and the broker extrapolates this to the actual price. To indicate this digit, the trader puts his hand out in front of him, palm in. For a 1, simply hold up the index finger straight into the air. For 2, add the middle finger, for 3, the ring, 4, the pinky, and 5 is all fingers. For 6 through 9, the hand is turned sideways so that the fingers go across your body horizontally. Thus with the right hand, a 7 would be the index and middle fingers pointing to one's left. For 0, a fist is used. * The amount of shares to be bought or sold. This is done by touching the face. Multiples of 100 are indicated by a fist to the forehead; Multiples of 10 by a mere finger to the forehead; and individual units by a finger to the chin. These are preceded by the same indicators as the pricing digits listed above. So for a sale of 330 options, a trader would first indicate a "3" by holding up 3 fingers, then touch his fist to his forehead (as a general rule, the "3" is also done near the forehead for clarity's sake). He would then indicate a second "3" and touch one finger to his forehead (thus representing 30.) ~~~~~~~~~~~~~~~~~~~ Beyond the actual information regarding the order itself, there are a number of hand signals used to indicate the status of an order, and other procedures on the trading floor. * Order filled. The classic "thumbs up", this indicates the order has been registered and processed. * Order cancelled. Another universal hand signal, dragging the finger or hand across the throat indicates an order has been cancelled. * Order status. A deliberate hands in the air shrug is used to inquire about the status. This is one of the most interesting signals, since it conveys frustration, but is merely a passive signal of inquiry. * Order still in process. Placing your index finger out sideways and rolling it in a circle indicates an order is still being worked on. * Stop order. Without explaining too much about a stop order, it is in short an order only activated at a certain price, used by traders to minimize losses. This is indicated by punching your open palm with your fist. http://everything2.com/index.pl?node_id=1844039