a question about GLG ( friday's close )

Discussion in 'Order Execution' started by SethArb, Sep 18, 2006.

  1. can someone please explain to me how this was allowed ?

    a block hits the tape after 4 pm and it is considered the settlement price even though it was below the days low ?

    I do not have T+S on the close but the settlement
    reported seems to have been at the price of the block trade (?)

    $37.35 prior to this the days low was above $37.50 and just before the "print" GLG was trading above $38

    also after the print GLG traded back up to $38 area AH

    I thought it was a late print but now am totally confused
  2. mnx


    an imbalance to the sell side for a market on close order?

    friday was the s&p rebalance after all...

    I don't remember seeing GLG with a market imbalance but this was probably the case...


  3. anyway ... it has been resolved .. the answer in $$$ terms

    not sure if the triple - quad expiry had anything to do with this
    late friday

    but today GLG opened up almost $1 higher ... and gold price was not that much higher than friday at the time
  4. mcelitetrader

    mcelitetrader ET Sponsor


    A minitender came through for 3 million Goldcorp shares this weekend. Your spike on GLG on the open was influenced by the offer for GG shares. The waves from the merger of GG/GLG shot those stocks higher. I'm still seeing massive blocks go off on GG as it figures out where it wants to be.

    I have been trying to arb GG and GLG but these massive walls are creating strange vacuums that fill way to quickly for my fingers to beat. The automated arb programs are just too fast in that regard.

    Hope that helps.
  5. SethArb,

    There was a sell imbalance MOC for 249,400 shares advertised at 3:40 on Friday. At 3:50, the imbalance was reindicated as a 201,700 share sell imbalance. I wish I would have saw this one. The ones I looked at didn't work. :D