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NYSE executions
- Thread starter ScreenLocal
- Start date
Quote from bdon:
using a market short in GYI on 30k shares would not be advisable.
Piece it out and let the mooks nx a 1k shares at a time believing their going to create the 3 cent bounce they want or use the ecn's, hide your size, and collect the rebate.
I gotcha. No I understand you can't send a 30k market order to the specialist on GYI. You wanna get screwed if you do that, I guess.
But if there's a bid on 15k for example. And I send a 10k market sell order to the specialist. Will I get filled on the bid, or would i get filled under it.
-SL
Quote from ScreenLocal:
I gotcha. No I understand you can't send a 30k market order to the specialist on GYI. You wanna get screwed if you do that, I guess.
But if there's a bid on 15k for example. And I send a 10k market sell order to the specialist. Will I get filled on the bid, or would i get filled under it.
-SL
you have to be filled on the plus tick in gyi so if the bid is on the minus you'll just be posted on the offer. Thats where using the ecn and showing 100 shares might be prudent. the mooks will keep taking the 100 shares in front of the size because that worked 4 years ago and you'll get you order filled with no slippage.
Of course there are different situations throughout the day that make the above scenario not work, thats where timing and tape reading come into play.
Yeah I gotcha. I see what you mean!Quote from bdon:
you have to be filled on the plus tick in gyi so if the bid is on the minus you'll just be posted on the offer. Thats where using the ecn and showing 100 shares might be prudent. the mooks will keep taking the 100 shares in front of the size because that worked 4 years ago and you'll get you order filled with no slippage.
Of course there are different situations throughout the day that make the above scenario not work, thats where timing and tape reading come into play.
Thanks for you time!
-SL
I'm not going to go into it right now, because I am waiting to get filled. In short, if you know what your doing, you can buy deep in the money puts that will get you short right away. Its capital intensive and you need a versitle platform that can do the combination calculations for both, but it can be done.
I am in similar situation as Screenlocal, has been doing nasdaq for a long time but never touch NYSE before.
hope you guys dont' mind few noob questions
What's the different between passthru and regular bid/offer orders.
How do you exit or punch out of an position when the market go against you? in naz it's simple really, but in nyse, specialist doesnt' necessary fill you order, the price go against you more, u chase it, same thign happen again.
Thanks in advance for any advice
hope you guys dont' mind few noob questions
What's the different between passthru and regular bid/offer orders.
How do you exit or punch out of an position when the market go against you? in naz it's simple really, but in nyse, specialist doesnt' necessary fill you order, the price go against you more, u chase it, same thign happen again.
Thanks in advance for any advice