At 9:59:36 JAZZ was 33, at 10:02:08 I bought some at 23.59. At 10:19 it's over 32. Are they going to let me keep this? I've had these buys on quick dips taken from me several times in the past. I haven't been able to find any news that might explain the dip. It's a mess when you sell a long position only to find the underlying trade canceled and that you are now short.
then do not close the position. what's the hurry? extremely likely they will bust the trade.these days erroneous trades stands for big boys only. on other hand it's looks like legit dump and might stay. here is the link for ya: http://www.nasdaqtrader.com/Trader.aspx?id=MarketSystemStatus&cid=topnav give them like 30 min from now. if nothing pops up-you can probably close the position
Thanks for the Nasdaq status link. My ATS won't try to sell until the end of day, so I've got some time to follow it.
U know what i would do if u are really concerned about a poss bust? I would buy a jun 32 straddle , sell jazz to take profit. If u do not hear from your broker next 2 days, trade probably stands. At this point get rid of your straddle insurance, lose a little /maybe make a little in case JAZ blows up again . If they bust the trade, you are then now short at 32, but u have protection from an adverse move thru the options.
No reason to sell the stock right now if you're concerned about a bust. Give it some time to see if they investigate the issue.
Looks like there were 8 fills at 23.59 within that second for a total of 2700 shares. You should be fine. http://postimage.org/image/11l9fu7pg/