ET News & Sponsor Info
General Topics
Markets
Technical Topics
Brokerage Firms
Tools of the Trade
Trading for a Living
Community Lounge
Site Support

# 1/1000 of a cent?

Discussion in 'Trading' started by IronFist, Jan 24, 2007.

1. ### IronFist

I placed a buy to cover order today and the majority of it was filled at \$27.2899 and the rest was filled at \$28.29.

wtf? 1/1000 of a cent difference?

Oh, and I've never had this happen before. I still just subtract losses from profits at tax time, right?

So hypothetically, say you place one order a year, and it's like this. Assume no commission:

Short 100 shares if xyz stock @ \$100 = \$10,000.

Place a buy to cover order at \$105 (yea losing money) that gets filled 90 shares @ 105 and 10 shares at \$105.50

So,

Cover 90 shares of xyz @ 105 = 9450
Cover 10 shares of xyz @ 105.50 = 1055

So your total was \$10,505 and you report a loss of \$505, right?

2. ### cashmoney69

Use an "all or nothing" limit order and you'll get filled at the same price for all your shares.

3. ### IronFist

I thought about that, but doesn't that not guarantee that your order will get filled?

4. ### thegazelle

I always get fills like this whenever I use Scottrade (which is rare) . For example, got a fill on a buy today at 13.4299 . For what it matters, I used a limit at \$13.43 which was the current ask.

5. ### drmarkan

Most likely one of the shares hit for a penny less than the rest and it was cost averaged.

6. ### drmarkan

Your account is not going to show a sale at 10,505.00. It is going to show that you bought 90 shares at 105.00 and 10 shares at 105.50, and you sold them at 100.00 for a loss. It would show that you bought 10505.00 worth of stock, and the sale was at 10,000.00 for a loss.

7. ### ellevers

could be a scottrade price improvement

ET IS FREE BECAUSE OF THE FINANCIAL SUPPORT FROM THESE COMPANIES: