1/1000 of a cent?

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

  1. 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


    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. Use an "all or nothing" limit order and you'll get filled at the same price for all your shares.
  3. I thought about that, but doesn't that not guarantee that your order will get filled?
  4. 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. Most likely one of the shares hit for a penny less than the rest and it was cost averaged.
  6. 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