DRL manipulation

O

Option Trader

See the huge size asks on DRL. They have no interest to sell, only to drive the price lower. Earlier today, it took them about an hour to clear out a much smaller size bid.

Currently there is an ask for about 48,000 shares. Using DRL as an example, I was wondering what would happen if someone placed a buy order for 48k shares. How many of those shares do you think he's gonna get? DRL is an NYSE stock.
 
If a market order would work at all, it would probably be with a long delay, and several cents higher. That would be extremely interesting what will happen to the price, as they don't want to short anything more.

With a limit order, and now that they are finally matching the ask with a bid big, it would be interesting if it will send the stock flying up like at the end of yesterday.
 
Quote from Pete3212:

you can do a market order for 48k and unless the spec is a bastard, you should get them.
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Are there any specialists that AREN'T bastards?
 
If it is possible to take out the ask, then IMO at rock bottom prices of DRL with no news to support it I must say is very brave of the shorts.
 
How long you been trading option trader? 5 minutes.

If the offer is there, you can take it.

Whats with the paranoid bs?
 
Yeah exactly. Theres no time delay or anything... if you do a limit order you're going to see the NYOB cross and then the guy offering (if you think he doesn't actually want the shares) will have time to pull his order.

If you do a mkt order, there should be no indication to the order on the offer that it's about to get hit until the specialist changes his print to a 1 lot, and at that point it's highly unlikely the spec will let him cancel.
 
Quote from Longhorns:

Are there any specialists that AREN'T bastards?
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Ahhh, the 1500 post troll crawls out of the woodwork to lay a pithy egg of wizdum.............then crawls back into the woodwork with antennae wiggling satisfied he's made the world a little better place.


As for the seasoned option trader, in the equity world, transactions between member firms don't appear on the tape (unless they so choose). And people generally don't play cards face out. Stated another way, inventory merchandising often has backstock or a ploy to acquire inventory TO merchandise.

Probably not a bad idea to be a little parnoid. Afterall, in a predator/prey arena, not knowing WHO the predator is nor what "he's capable of doing (up or down) is on par with an insect. Which.........brings us BACK to long horns. Long might be a connotation for penis envy. Doesn't have anything to do with profit, brass instruments, or livestock.

As for Doral, topped at 48ish. At $4 it's not exactly a live stock. .
 
Quote from Pete3212:

Yeah exactly. Theres no time delay or anything... if you do a limit order you're going to see the NYOB cross and then the guy offering (if you think he doesn't actually want the shares) will have time to pull his order.

If you do a mkt order, there should be no indication to the order on the offer that it's about to get hit until the specialist changes his print to a 1 lot, and at that point it's highly unlikely the spec will let him cancel.
More...
Thank you for the distinction. I personally wait till the bid is substantially stronger than the ask before buying at the ask.

Stock7777: Seems you either only trade stocks that the seller "really wants to sell" OR you only place market orders.
 
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