3x ETfs: Getting opening price

Discussion in 'ETFs' started by Sanz, Dec 9, 2012.

  1. Sanz

    Sanz

    Hello,

    Anyone has experience with trading fairly liquid 3x leveraged Etfs with market on Open orders (OPG , preferably through IB)?

    If yes, what kind of slippage should I expect, assuming I am trying to get the "yahoo" published open?

    Thanks.
     
  2. if u r worried then do a order that executes at 9:30:01.
     
  3. I don't think IB has OPG, do they?
     
  4. iggy9807

    iggy9807

    I am seeing a penny or two slippage but not every time. Don't try simply buying on the open with an overnight order though. IB will replace it with a limit which might be too far from the mid-point and ARCA might cancel it. Use OPG or set the start time at 9:28. I haven't quite figured out which option is better.
     
  5. alot of time OPG order dont get filled........ I would take the other advice: set an "alert" and use TIME as the trigger to fill......
     
  6. A lot of times, price is settled way before 9:30. Even at 8:30 or 9:00. No slippage. The bid/ask are one cent apart.
     
  7. Sanz

    Sanz

    Thank you for the info. I use OPG on 1x Etfs all the time and do get the opening price. I guess the same happens for the 3x's. Will have to try it live.