market-on-open for the nyse

Discussion in 'Trading' started by allstarmoney, Jan 22, 2007.

  1. hi folks. have a quick question. if i place a market on open order for an nyse stock before the market opens, am i guaranteed the opening price or should i expect some variance from the opening price? thanks much in advance for your help.
     
  2. blast19

    blast19

    Depends on the stock, how fast it's going to move, how good your broker is, how many others want in, how liquid, how big the order is, etc.

    Kind of a tough question. If it's Microsoft on a normal day and it's not gapping you'll pretty much get the price on opening...if it's XYZ stock that is illiquid and you have a huge order the Asks will quickly raise, fill you higher, and then come back down.

    Not really sure you're going to get an answer on that one. You're better off putting in a limit order than a Market Order...you might not get filled, but at least you'll get your price.

    Cold-blooded
     
  3. Isn't it the case if you want to get filled at the official open for a NYSE stock, all you have to do is submit a regular market order prior to market open?

    http://www.nyse.com/productservices/nysearcaequities/1157623605117.html
     
  4. You are not knowledgable in this. First, Microsoft is not NYSE stock, it is nasdaq. The rules very different for the open. You need read closer before making ignorant post.

    If you trade NYSE stock, you can buy market for open price, no matter how illiquid stock is. As long as order is in prior 9:28. Stock may gap due to order but you will get fill. On short side, you only get fill on uptick. If stock open down, no fill. If stock is Regulation sho, you can get downtick fill. No restriction.

    -Harry