Hey. IB launched its own IPO Auction System. Now we can bid openly and let the market determine the maximum offering price. 1. Let's say IB projected range is $23-27. What if the maximum offering price (based on the bidding activities) turns out to be outside of the range, eg $21 or $29? How much do we need to pay for the shares? 2, Can I canel my purchases after the offering price is determined? 3. How can I ensure I can get IB shares? It appears I can bid at a unusually high price (eg $40) without any noticeable adverse effect. After all, when the price is settled, I must be higher than the maximum offering price. Let's say it is set at $27 finally. I just pay for $27 anyway even if I bid at $40. Would this be a good strategy? Or did I miss something?