what is unchanged
unchanged refers to a situation in which the price or rate of a security is the same between two periods this can be over any time frame including a trading day week or even as much as a year unchanged is a term used universally among equity fixed income futures and options markets the term also applies to indexes exchange traded funds and the net asset value of mutual funds while it is possible to note an unchanged price between two random times say 3 p m on a thursday and then at 10 15 a m the following tuesday most investors and traders focus on either unchanged intra day prices or unchanged closing prices over multiple trading days breaking down unchangedunchanged intraday prices are more common for securities that are fairly illiquid and generally less popular such as closed end funds microcap stocks and interests in private companies that do not trade on major exchanges certain exchange traded funds are also thinly traded and could be more likely to have unchanged prices conversely very few stocks on the s p 500 end a typical day unchanged or where the session s opening price and closing price are identical even during periods of relative market calm 