Anyone here with an opinion on this? There is one thing that I feel is a bit odd. It's the fact that once my order got filled at $8.85 the confirmation that I received was displaying "invalid date" instead of "day" which is the default option for the platform. All the other orders that I did on that day were displaying the word "day" because that was the option selected for the period that I wanted that trade to be. Is that clear? Do you guys get odd messages like that when you trade after hours? Could it be related to the fact that the transaction occurred at the wrong price? Could it be the proof that there was a technical glitch?
Here's a screen capture of what I described in the above message. The erroneous trade have the words "invalid date" under expiration. All the others transactions have the word "jour" in french which means "day" in English under expiration. It doesn't seem to be normal to me. I've never seen that before. Could it mean something? Could it be related to the fact that the trade didn't happen at the price I asked?
---Retirement funds are not funds one can afford to lose in my view and should not be "traded" --especially afterhours.
You might as well ask why that one particular execution is different than the others. It is most likely due to it being an afterhours execution so it probably does not imply any glitch in their system. The real question is why your order entered the market at a limit price of $8.85 versus $18.85 and why your broker even allowed that order.
My broker told me that they allowed the order because the bid was at $6.40. That was close enough of $8.85.
$8.85. It's not really clear what they think. I suspect that they know they did something wrong. When we talk on the phone, our conversation is recorded so they are very careful about what they say. One thing is sure. During the first conversation that I had with them which is just a few minutes after the erroneous trade the guy I talked to said that it was probably just the system displaying wrong numbers and that it's probably ok. It never crossed his mind that he had to do something right away to fix it. Like calling ARCA asap.
I wrote to ARCA. Here's the answer: "Unfortunately, we cannot discuss trade details with anyone but the sending exchange member. Please submit all inquiries through your broker."
So they are claiming you entered the price as $8.85 then? If they stick to that line of defense, you must attack them on not busting the trade within the allowed time window.