Can I buy QQQQ option at the open

Discussion in 'Order Execution' started by NoWorries, Feb 16, 2007.

  1. A quick question: Is it possible to buy a QQQQ option and get filled at the open?

    I understand my broker does not support MOO orders for options. Can I just enter a market order before the open, or would that lead to a potential disastrous fill (I'd be surprised since volume is large)?

    Would it be better to wait until I see the first quote and then just hit the ask?
  2. You would want to be very careful doing this. Some of the options exchanges have wide bid ask spreads during the opening rotation and you could really get ripped off. You would be better off either using a limit order or waiting for a few market centers to post quotes after the open.

    This holds true for whatever underlying (QQQQ, MSFT, or any other option).
  3. Do you know what MOO and MOC stands for?

    Murder on Open and Murder on Close