You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Clarification on stocks trading above/below $1
- Thread starter bellman
- Start date
Quote from bellman:
For any American stock exchange (NYSE, AMEX or Nasdaq), can equities trading below $1 be traded at fractions of a penny and stocks trading > $1 must trade in penny increments?
my understanding is both above and below $1 can be traded down to a fraction of a cent. I have bought some at the fourth digit to the right of the decimal point, for instance 32.8899.
Just my experience
Stock Bids and offers above $1 and priced in subpenny increments cannot be accepted from retail customers due to SEC's Rule 612. Trading can be done by a broker/dealer in subpenny increments.
See http://defendtrading.com for more info
See http://defendtrading.com for more info
Quote from tommintj:
Stock Bids and offers above $1 and priced in subpenny increments cannot be accepted from retail customers due to SEC's Rule 612. Trading can be done by a broker/dealer in subpenny increments.
See http://defendtrading.com for more info
Interesting Tommintj.
Why then can I buy positions with the fourth decimal point? For instance today I did a market order for C and bought it at 4.8485.
I didnt do a limit order(when I do a limit order it wont let me enter more than 2 decimal spots), and that 4.8485 is what the market let me buy it at.
Im not trying to "i told you so", and I interested if that is the rule then what is the reasoning as to why did I get to buy to the 4th decimal spot?