Glossary
Line movement (steam)
Line movement is how a market's odds shift before an event as money and information arrive. A sharp, sudden move is often called steam.
Odds move as books take bets and adjust to information. A steam move is a sharp, coordinated shift, usually following sharp money. Tracking movement, especially toward the closing line, helps gauge where the market thinks true probability sits.
A product can only record how prices evolve if its data stays fresh and consistent through to the off.
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