Just a quick couple questions about these types of orders... If i enter a buy on open order before the market opens will i get filled the shares i input 100% of the time? Or is there a chance that i will not get filled because there is not enough shares to fill me. Also Can you go short on the open by entering a sell at open order? Finally... As per question 1, are the orders filled on a first come first serve basis... ie inputing orders at 8am will have a better chance of being filled than orders at 9:25? Thanks alot.
One other question.... I do day trading, so if i was to place a buy on open order, would teh shares show in my blotter right at 9:30, or would they only show when the group print goes by on the time of sales around 9:40.
you will get filled 100% on long market orders on the nyse. shorts have to have an uptick from prior close. all market orders are filled on the open print so time will not be a factor on the open other than you have to have the order in 2 min prior to the open to guarantee a fill.
Yes NYSe or AMEX, but note if you send a short mkt on open, and it does not open w/ a + tick your order gets cxl'ed. If you would like the order to go live even if the sock opens lower, do not mark it for the open.
I also want to thank you, trade agent and vhehn, as I have similar questions. Also, do these things apply to Naz stocks as well?
Because there is no specialist on the NASDAQ, there is no 'opening print'. They do have an opening cross, but i dont know exactly how it works, and i dont think it guarantee's fills.
Yes they do, but the nasdaq will price adjust mkt short on open orders.. I do not remember the amount, but you should be able to find it here http://www.nasdaqtrader.com/