sitting on b/a

D

dividend

Hello. I'm curious if there are any experienced traders that could tell me why would a very large open order just sit on a bid or ask while the pressure is obviously hitting it. (This is on NASDAQ). I would think I would want to back away from the pressure to attempt to get a better price while also drawing more interest to it.
 
(1) Why? The customer probably has a longer-term time horizon. (2) The order might be linked to other stocks, options and/or indices. (3) The customer might believe they're picking a good spot to get a lot of size on the trade.
 
but why would they sit there so obviously. sitting on the ask would scare the longs, imo.

anyway, i think i answered my own question. the price continues to fall. today i saw the opposite happen. i think everyone got scared and sold.
 
Quote from dividend:

Hello. I'm curious if there are any experienced traders that could tell me why would a very large open order just sit on a bid or ask while the pressure is obviously hitting it. (This is on NASDAQ). I would think I would want to back away from the pressure to attempt to get a better price while also drawing more interest to it.
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could be right before options expiration and they are holding it back until monday, if you look at a lot of long term charts you'll see this over and over

aapl 85s and 80s both expired worthless last week , everytime it went above 85.00 somebody came in with 34k for sale it went right back down, over and over for 3 days and today it blew right thru, not saying that this is you case but it happens all the time on options expiration week

very important to watch options
 
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