I'm doing a sell to open on a stock with Schwab. Just wondering if I switch my order from day only to good until cancelled will I end up going to the back of the line as a new order?? Will all the sell to opens that were at my price, be able to jump in front of me now? This is occurring during normal trading hours. Thanks...
I think holding a short option order overnight is too risky. The stock moves against you for the order to get filled.
In a word: "yes." You are vying for a transaction -- your terms are price, and then all the other parameters on that contract (like quantity, DAY or GTC, etc.) so, a new "term" is a new *contract*. Same with anything like Pause Execution or not..... Yeah, but it's fair, too.
I have 300 shares of BG...China is NOT buying US soy!! Also this company may be a buyout candidate sometime in the future...The future does not look to be now. I tried to do an all or none...Kept lowering the price. Then eliminated the all or none...Still wasn't grabbed. I kept lowering the price (Jan 19 $77.50) to an ask of $2.80...I just hate to get two (or three) different transaction fees for different days. The masses are on the sidelines or leaving this company. Good boring dividend, but tons of ???
Something to consider: a One-Cancels-Other, with the sale of the underlying cancelling an order to sell the option above it, or the sale of the call cancelling the sell order on the underlying. This would gain you some flexibility in a thin market, where your desired price might trade but once a day. You can put it on and let things percolate out....