what can I do MOC orders for?

[Gordon Gekko]

I use IB. What can I do MOC orders for? Is it only certain exchanges or what?

Thanks

 

[Trader Pete]

do you mean straight to IB? or from TS?

 

[jennajameson87]

To get the closing price in a listed stock is MOC is for. You would want to use it if you have access to imbalances. An example would be if there is a buy imbalance in a stock that you own already then you may want to sell it to get the closing print. The imbalance may make a spike or the price may be different than the current price that the stock is trading at vs the closing price.

 

[indahook]

Quote from jennajameson87:

To get the closing price in a listed stock is MOC is for. You would want to use it if you have access to imbalances. An example would be if there is a buy imbalance in a stock that you own already then you may want to sell it to get the closing print. The imbalance may make a spike or the price may be different than the current price that the stock is trading at vs the closing price.

While this is a valid strategy it is also somewhat overused...everybody sees the same imbalances. The big problem is its still a market order and the specialist can have his way with you just like bubba the prison trustee.

Edit = NYSE only