IB cancelled opening auction sell order in POWR

M

Maverick2608

I had a big opening auction (OPG) sell order on POWR.

POWR drops 10-15% after the opening auction.

After 6 minutes Interactive Brokers cancels my order.

Millions of shares are traded.

Pretty easy and profitable to make money this way, if they are allowed to do this.

Anyone?
 
My order was cancelled due to the uptick rule.

I was not aware that the uptick rule also applies to the opening auction.

Is that correct?

Thank you.
 
I use short OPG's each and every day and so far never had a cancelled order due to an uptick rule violation. The opening print is the very first print of the official trading session. How can there be an uptick, or downtick? Im not aware of a rule like this for OPG's.
 
The old (pre 2007) uptick rule applied to the opening cross (I had more than one short go unable on the open due to the old uptick rule). It makes sense that the new 2010 uptick rule would also apply to the opening cross. I guess you would have to actually read the reg if you want to know for sure.
 
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