A question from IB about shorting Before hours

Discussion in 'Retail Brokers' started by hajimow, Aug 3, 2005.

  1. I tried to short ADI before the hours at about 9AM. I used IB's Webtrader. I unchecked normal hours box and my order was accepted but my order was not showing as Ask price. I have shorted many stocks before the hours and AH but this time it did not work. I changed my order a couple of times. I reduced my price from ASK price, then matched the ASK price. The stock was traded over my ASK price but my order did not go through. I cancelled my order as I did not want to trade in regular hours. I would appreciate if someone from IB tells me what was wrong.
     
  2. alanm

    alanm

    ADI is on the Reg. SHO "B" list, which means it is subject to the tick-test during the pre-market.

    The minimum price at which a short-sale may occur is either at the last trade price* if it was an uptick, or at 0.01 above the last sale price if it was a downtick. If your limit price was below this price, it would be marked up to that price and displayed there.

    *The definition of "last trade price" is either the last trade at the destination to which your order was routed or the last trade reported to the consolidated tape, and may or may not include the previous day's after-hours trading (resetting to the last NYSE print if not).