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SOTP Average Closing Price Explained

Contributed by mm | December 11, 2003 02:34 PM PST



I finally understand the difference in my calculation of the SOTP average closing price and the official one. The difference comes from two angles:

First, the history price used in the official calculation is NASDAQ Official Closing Price (NOCP), which is difference than the last trading price what Yahoo! Finance and MSN Money usually use. This summary explains details of NOCP.

Second, according to Microsoft, November 28 (the day after Thanksgiving) is not a full trading day and thus is not included in the calculation. (I didn't find it is mentioned in all the documents though).

Below is how the official average closing price gets calculated:

Date  Official Closing Price   Avg Official Closing Price 
14-Nov-03  $        25.46  $     25.4600
17-Nov-03  $        25.21  $     25.3350
18-Nov-03  $        25.15  $     25.2733
19-Nov-03  $        25.35  $     25.2925
20-Nov-03  $        25.09  $     25.2520
21-Nov-03  $        25.11  $     25.2283
24-Nov-03  $        25.75  $     25.3029
25-Nov-03  $        25.41  $     25.3163
26-Nov-03  $        25.49  $     24.3356
1-Dec-03  $        25.85  $     25.3870
2-Dec-03  $        25.68  $     25.4136
3-Dec-03  $        25.62  $     25.4308
4-Dec-03  $        26.20  $     25.4900
5-Dec-03  $        25.96  $     25.5236
8-Dec-03  $        26.25  $     25.5720
null

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