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Why don't you try it? The answer is: you'll only get filled when you don't want to.

If my broker triggered a stop just because the best bid was at my sell stop price, then I would either never use stops at that broker again or pull my money immediately. That is not how stops should be handled. The OP should investigate why the order even triggered as there was no evidence in my...

There is very little liquidity in afterhours trading. The spreads are large and there are not many shares available to trade against most of the time. It is a bad idea to set stop orders outside of regular trading hours. For example, according to my time and sales records for WFM, at the time...

Another regulation probably deemed to be "good" by the powers that be, but is totally unnecessary.

This is just a "cover their ass" explanation. It doesn't make sense that they would even allow this order (more than 50% off the last official price) without some manual confirmation/intervention.

So they are claiming you entered the price as $8.85 then? If they stick to that line of defense, you must attack them on not busting the trade within the allowed time window.

You might as well ask why that one particular execution is different than the others. It is most likely due to it being an afterhours execution so it probably does not imply any glitch in their system. The real question is why your order entered the market at a limit price of $8.85 versus $18.85...

At the time of your order, I am showing a best offer of $19.50. I will PM you the time and sales file for BCOR for afterhours trading on that date.

But according to my time and sales, from 4:01:47pm onwards (until your order arrived), the best bid was $6.40. There was no $18.85 bid.

I don't understand. There are only limit orders in afterhours trading.

Unfortunately, my time and sales is showing a best bid of $6.40 when you entered your order. So there was no better bid. Technically your broker gave you "price improvement" of $2.45 compared to that bid.

There are only two ways you could win. One is that ARCA allows you to bust (very unlikely). If that is the case, the counter-party will have already sold probably in the 18s and will be short 4,300 shares now at a price in the 20s. They will have to eat the loss in that case. The second case is...

If you failed to file before the time deadline, this is normal behavior by exchanges. They will ask the counter-party to willingly bust the trade and the counter-party always says no. Would you give up a $40k+ trade for someone else?

Probably a computer algorithm that detected a large price change in the security and sent in the orders automatically.

Put pressure on your broker for full compensation then. That will in turn make them want to deal with ARCA on your behalf. I doubt ARCA caves given past samples of irrational behavior. Good luck with this.

Unfortunately, that is not how it works. Your broker has to contact ARCA within the 30 minute deadline. If you don't give your broker enough time to file, then it is deemed your fault (according to the powers that be).

Did you contact your broker immediately after the trade executed? Did you give enough time for your broker to file a bust request to ARCA within the 30 minute window?

Island, DirectEdge, Bats, and others.

Note that it is possible that I am not seeing the extra 1,000 shares traded at $8.85 because it was busted and removed from my data source.

I realized that I have access to time and sales for BCOR due to a data subscription and was able to pull up afterhours trading for BCOR. You are correct, the best bid at the time was $6.40 and your order hit the market priced at $8.85. According to my time and sales only 4,300 shares were traded...