Anyone get filled during the Flash Crash?

Discussion in 'Order Execution' started by shbhanda, May 11, 2010.

  1. shbhanda

    shbhanda

    I couldn't find an interesting thread about trader fills during the crash so if you have any interesting stories please post them here.

    I was long URE around 38 when things went nuts and i saw orders going through at 3.00 and an ask at 19.67. So I put a buy order in through Fidelity for 400 shares at 20 and i could swear that immediately I saw 400 taken out of the 19.67 ask. But the order remained open and then pending canceled until Monday when it finally canceled. It was not 60% below the 2:40 price.

    So, I was just wondering were anyone's buy orders way under the "proper" price of the stock filled, and through which brokers?
     
  2. I did got filled on some good trades and none of them were broken.

    The most detail I can give about my story is that I've been trading for almost 4 years full-time and I've never seen anything like quite like that except maybe once or twice before in October 2008 and December 2008.

    I wonder what happens when there is a real cascade-type selloff and people really want to get out but the stock is essentially deemed limit-down for the duration of the day --- it would suck if you wanted to sell but couldn't b/c of the new rules. I wonder if it would cause people to rush even more out of a position if they anticipated disaster.

    I don't know the new rules yet but I'm just sharing a random thought I got.
     
  3. Div_Arb

    Div_Arb

    I had a bunch of GTC buy orders for CEFs in my long-term accounts that were executed at VERY favorable prices. None of them were busted. This was thru Schwab.