Markets start crazy:
Jonah, Volatility (wide price swings) is very common when a new market opens because there is a lot of supply (stocks) and little demand (traders). Because each stock starts out at $50 (even odds), there is going to be a lot of activity (in both directions) as people start taking positions in the market. Over time, the market will settle down and prices will converge on the actual value (which is also the probability of the underlying event). Happy trading! David Perry WSX Founder