Short QQQ Limit @ 30.79, filled at 30.76 ?!?!?!

Discussion in 'Trading' started by taumeson, Jul 7, 2003.

  1. taumeson


    Am I smoking something? Or is this just wrong?

    I placed a Sell Short @ 30.79 Limit, and it was filled at 30.76 by my broker... doesnt this totally go against the reason of using a limit?

    Do I have a case against my broker? (Freetrade) or is this not unusual???



    :eek: :confused: :mad: :(
  2. Magna

    Magna Administrator

    A sell-limit order (whether or not it's a short) says that you are willing to sell at that price or higher. Assuming you entered the order properly, if your broker filled you lower than you've got a problem. Now if you put in a sell-stop order then you will often get filled lower due to slippage, etc.
  3. taumeson


    What is the usual recourse for such a problem?

    I put in a Short at Limit of 30.79... and my order confirmation confirms that......

    Do they usually rollback of the transaction? I want to have a short position at this current time, so a rollback isnt good... or do they usuall credit you the difference?

  4. How many shares?
  5. taumeson


  6. First thing would be to contact your broker, but take snapshots of everything their system shows before you do.

    You said you "put in a Short at Limit of 30.79" - it should be impossible to get filled below your limit price on a sell limit order. A sell stop order @ 30.79 on the other hand...

    In the absence of a record that your order was a stop limit order, about all you can do is hope the broker take pity on you.

    When did this happen anyway - the QQQ hasn't seen 30.79 (let alone 30.76) today?
  7. taumeson


    sorry, 31.79 filled at 31.76... i think i'll just wait and see what I get back from them before I bitch more :)

    i got an order confirm tho so we'll see!
  8. fan27


    I had a similiar situation occur with RJT about a year back. I brought it to their attention and they cancelled the trade, no loss to me. I'm sure your broker will make it better.