Opening Only's 2010
- Thread starter Don Bright
- Start date
Remember, the "Opening Only" order type designates simply that "opening ONLY" - only twice a day is there a single price, the opening and the close. Sub pennies will not be used (not yet anyway) for the NYSE primary market opening price. You "can" be left out of short sale order if the stock opens at the exact same limit price, but this really rare.
Don
Don
Quote from Bob111:
IB should hire me to work @ their trading desk(phone option #2)
LOL, yep I noticed how you put the "service" in "customer service." Compassion exudes from every word.....
Don
Can someone else confirm this? This morning I placed two SMART routed MOO orders for two NYSE stocks (using IB), one of them was directly sent to ARCA, the other one left as a SMART order. The ARCA order got filled at the open, while the SMART-routed order was unfilled and left open for 7 minutes, until I manually cancelled it and manually purchased the shares. Has this happened to anyone else? I should mention that they were both partial lot orders..
Something seems amiss. MOO = "market on Open" not LOO or "limit on open."
The Time in Force should be "OPG" for opening only with a Limit price. They won't know whether to fill you or not if you don't us Limit (Market would fill everything).
The Smart router may have had a limit price, which was not a viable opening price. You may have bid too low, or offered too high to be filled. The MOO would/could explain the immediate fill at the time the bell rang, not necessarily the actual NYSE opening price.
edit: give me symbol and price you were filled at today, and I'll compare.
Don, I never placed any LOO orders, I was simply referencing some older posters who were discussing ensuring that the order was routed to a specialist.
One of the MOO (ie, in IB, an OPG MKT) orders that I placed, I had routed using SMART routing was never filled through 9:37am at which point I decided to cancel it altogether and buy using a limit order at 9:37am instead.
Just to be sure, to guarantee proper opening only, primary market execution on NYSE.
Time in Force: OPG
Order type: Limit
Desination/Routing: NYSE
Some vendors default to "smart routers" pre-market, so you must over-ride just to be sure you don't end up on an ECN.
Don
Time in Force: OPG
Order type: Limit
Desination/Routing: NYSE
Some vendors default to "smart routers" pre-market, so you must over-ride just to be sure you don't end up on an ECN.
Don
If you use it as I specified before you are in the auction and should get filled. I struggled weeks before figuring out what orders to use and played for about a year so should be in the ballpark. You can PM me if you have questions.
Also, and no diss intended, the OPG dont work on the simulation (paper) accounts I think. If it was the case.
Stocks at the NYSE auction dont open at 9:30 sharp. Most in the first seconds, a couple in the first minutes and some after 5 and maybe up to 15 minutes occasionally (other OPG traders could comment, back what I say here?). So it is possible that your 9:37 stock was not openned on the NYSE but it was on the ECNs. Therefore your market order was not filled yet in the auction and you managed to get your fill on the ECNs?
Was anyone playing the openings this year? Where your results any good (no details or number expected here)? Did the last spyke in volatility helped?