Hello everyone.
Can someone explain to me, how SSL could open at 2.79?
Premarket was around 3.75, now again at this level.
After open print 2.79 next price was 3.81 on island.., next NYSE print at 3.35.
Volume at open was 34458.
I don't really understand the auction at NYSE yet. IBKR doesn't let me enter orders close to the open...
This seems like a very decent free money trade.... Am i missing something?
Any advice is appreciated.
________________________
Edit: from investopedia:
While the NYSE’s official market opening time is 9:30 a.m. EST, orders to buy and sell securities can be entered as early as 7:30 a.m. In particular, the two types of orders that are accepted before the market officially opens are Market on Open (MOO) and Limit on Open (LOO). MOO orders seek to purchase shares at the current market price at the time the market opens. LOO orders seek to purchase a specific number of shares at a specific price when the market opens. If the requested price is not met, the trade does not take place.
The first data stream of the new trading day includes a reference price for each security. This price generally matches the previous night’s closing price. The data stream also includes data regarding the current imbalance between buy and sell orders and prices. By publishing this data, NYSE gives traders the opportunity to adjust their trades in order to match up buy and sell orders.
Data is published every five minutes until 9:00 a.m. From 9:00 a.m. until 9:20 a.m., it is published at one-minute intervals. For the final ten minutes prior to the market open, the data is published every 15 seconds. Beginning at 9:28, the likely opening price for each security is added to the published date stream. Orders placed between 9:28 a.m. and 9:35 a.m. cannot be canceled.
Can someone explain to me, how SSL could open at 2.79?
Premarket was around 3.75, now again at this level.
After open print 2.79 next price was 3.81 on island.., next NYSE print at 3.35.
Volume at open was 34458.
I don't really understand the auction at NYSE yet. IBKR doesn't let me enter orders close to the open...
This seems like a very decent free money trade.... Am i missing something?
Any advice is appreciated.
________________________
Edit: from investopedia:
While the NYSE’s official market opening time is 9:30 a.m. EST, orders to buy and sell securities can be entered as early as 7:30 a.m. In particular, the two types of orders that are accepted before the market officially opens are Market on Open (MOO) and Limit on Open (LOO). MOO orders seek to purchase shares at the current market price at the time the market opens. LOO orders seek to purchase a specific number of shares at a specific price when the market opens. If the requested price is not met, the trade does not take place.
The first data stream of the new trading day includes a reference price for each security. This price generally matches the previous night’s closing price. The data stream also includes data regarding the current imbalance between buy and sell orders and prices. By publishing this data, NYSE gives traders the opportunity to adjust their trades in order to match up buy and sell orders.
Data is published every five minutes until 9:00 a.m. From 9:00 a.m. until 9:20 a.m., it is published at one-minute intervals. For the final ten minutes prior to the market open, the data is published every 15 seconds. Beginning at 9:28, the likely opening price for each security is added to the published date stream. Orders placed between 9:28 a.m. and 9:35 a.m. cannot be canceled.
