Odd Lots

Discussion in 'Order Execution' started by kidPWRtrader, Jan 27, 2009.

  1. I'm a piker. Let's say I want to trade 100 shares of aapl. What are the chances i can get filled 33 33 33 scaling in and out in daytrading? Also, how about POT, MON, etc. any big liquidity names that are higher priced.
  2. wjk


    If you have direct access, send em to ISLAND. Over 100+ odd to ARCA. Easier with NASDAQ stocks. Not sure about other ECN's

    I trust you know odd lotters are pretty much hated in the trading community, though that should not influence your strategy if you are in the learning stage or have limited capital to work with.
  3. I know all too well about the hate and been warned lol. Yes I am in the learning stage (with cash).

    Thanks for reply. I will also check with TS directly to see what they say.
  4. Curious if the specialist still calls you if you 99 his book... or are you just annoying the algorithms now.?
  5. bespoke


    on POT and MON, just send 33 or 99 straight to NYSE. you'll get filled first to everyone's enjoyment
  6. 1. You may face higher fees for odd lot orders.
    2. Some exchanges don't support odd-lot orders at all.
    3. On NYSE you'll have to wait for the next non-odd lot trade to get your execution.
  7. I thought this thread had something to do with BIG, the store once named Odd Lots in the Midwest. Somehow it all fits together, though. Maybe you can trade 33 of their shares at a discount?:D
  8. Illum


    33 Very spiritual, make it 3300 and you will do well:D
  9. hughb


    I once had put in a buy stop for an odd lot of an Amex stock and it never got executed even though it went through my price. I tried to find the rules on odd lot stop orders for the Amex, but they didn't seem very clear. I didn't bother to ask or complain to my broker, I just let it go. I'm to embarrased too call my broker about anything, I know they are sitting there looking at my account as I'm talking, and they are thinking to themselves, "goddam, why is this fucken piker botherin me"?!?!?!?!
  10. They are called odd because only odd folks trade them. you are correct to be embarrassed.
    #10     Jan 31, 2009