If you look at your DOM and see 1000 contracts on the bid and 1 on the offer 100 points away with no movement, you're probably at a limit up. Watch for it.
lot of market makers and professional s are closed and told to work from home. you cannot have a market with no participants.
Obviously it's in my best interest for the markets to not be so crappy that they completely collapse. So, on that I can agree and sympathize with your points. But there was certainly a market today. I traded it just fine.
Please stop... "What would happen if the New York Stock Exchange floor is forced to closed?" "The trading floor consists of a mix of floor brokers, who execute orders on behalf of their clients, and designated market makers (DMMs), who are authorized to commit their own capital to provide liquidity and maintain fair and orderly markets. In the event the floor physically closed, those DMMs will be able to participate in trading activity remotely, including opening and closing auctions. If they cannot participate in any auction for any particular security, the NYSE itself would open the security. The DMMs would continue to retain their obligations to provide quotes and maintain fair and orderly markets. There are currently five DMM’s: Citadel Securities, GTS Securities, Brendan E. Cryan, IMC Financial Markets, and Virtu Americas. Floor brokers would also be able to access the NYSE electronically and execute orders, though some may not be able to fully participate in some parts of trading, such as the closing auction..." https://www.cnbc.com/2020/03/13/heres-what-would-happen-if-coronavirus-forced-the-nyse-to-close-its-trading-floor.html
the exhange can bust trades if the trades were too wide. and your .01 bid was actually filled. when the ask was $1 they bust it. they had to shut it down. it's not a market when bid is .01 and ask is $1 thatis BS market. as they say or broken market. or no market.
Indeed. When an instrument is not trading, it is generally not considered a market. The thing has to be open for spreads to mean anything. Maybe you are confusing illiquid markets with trading halts?
I am sorry I genuinely don't understand why you're quoting me and asking me that. This guy is talking about there being no market and that the exchanges might as well be closed. I do realize he also in addition to that talking about people being sent home. I was more referencing the "markets should just be closed part". I am telling him there certainly was a market, I traded it just fine, but I sympathize with him if he found it difficult as it has been trading like most people are not used too.