OPG executions

ManhattanTrader · Feb 12, 2003

hello,

I remember reading somewhere on a thread that someone was able to get filled on an OPG order entered seconds after the NYSE open print. please correct me if I am wrong.

tnx

ryanmitcho · Feb 14, 2003

if the stock has already opened you will get a "U R OUT" message and your trade will not be executed. You could enter a normal NX order to get the stock after the open though.

Don Bright · Feb 14, 2003

Quote from ManhattanTrader:

hello,

I remember reading somewhere on a thread that someone was able to get filled on an OPG order entered seconds after the NYSE open print. please correct me if I am wrong.

tnx

By definition, the "OPG" order is "opening only" - meaning the opening print. There are only two times during the day that there is a single price of a stock on the NYSE, the open and the close (MOC, or "Market on Close" orders).

You can, however, place on OPG order after the overall market has opened, but your specific stock has not. Perhaps that is wha you are thinking about.

Don

NYSE Trader · Feb 15, 2003

Quote from Don Bright:

You can, however, place on OPG order after the overall market has opened, but your specific stock has not.

true...I've placed opg orders after the market has opened and been filled on them because the specialist delayed the opening print of his stock.

lescor · Feb 15, 2003

You can also do it when a stock has been halted during the day and is about to resume trading.

Lobster · Feb 15, 2003

Quote from ManhattanTrader:

hello,

I remember reading somewhere on a thread that someone was able to get filled on an OPG order entered seconds after the NYSE open print. please correct me if I am wrong.

tnx

I would think that person means that he got the same price as the opening print a few seconds after the opening print. That happens a lot.

lescor · Feb 15, 2003

You can also do it when a stock has been halted during the day and is about to resume trading.

ManhattanTrader · Feb 15, 2003

Quote from Lobster:

I would think that person means that he got the same price as the opening print a few seconds after the opening print. That happens a lot.

yes I think that's what the person most likely meant. how would you route/mark your order in order to increase your likelihood of being filled as close as possible to the opening print?

tnx to all those who responded

nitro · Feb 16, 2003

Quote from lescor:

You can also do it when a stock has been halted during the day and is about to resume trading.

Really?

Didn't know that! makes perfect sense though...Thx.

nitro