I thought I understood this rule... but now I am not so sure. I was trying to short AMD yesterday morning and the spread was: .12 X .15 I entered my order to sell at .12 The stock traded .15 (uptick) .15 .13 .10 My understanding was that once you have the uptick you can sell at any price. Since .15 was an uptick and .13 was of some size and better than my limit of .12, I thought I should have been filled. I called my trade support department and was told that a short sale has to execute on an uptick or zero uptick and not just follow an uptick. So please... educate me.
It is a NYSE rule that a short sale may only be printed on a Straight plus or Zero Plus tick. Now ETF's like QQQ and SPY are exempt from The Uptick rules! ebo
What was the atmospheric pressure at the precise time of execution and what lunar phase were we in? Perhaps it was executed on ARCA when trading was halted on every other exchange and there were NO RULES??? ebo
***** **** ***** I gave an intelligent answer two posts prior. A PLUS TICK is a black and white issue putz. I am so tired of the bs (moderator edit) on this board. Everyone is an expert with their 6 months of scalping experience. ebo
Everyone is right in this one. Not necessary to start calling names. It seems that Jeff wants to look this up and try to help. Ebo, I know you were joking in your second post, but it does come across a bit edgy. burnin's OK to defend jeff's post. Let's leave it at that..... My take is that the print at .15 was likely done (consummated) prior to your order's being entered. It's likely that's what they'll tell you also. Specialists print first, report second, so that's usually running behind. As Ebo pointed out, you'd need a print of .15 or better on your short at that point. Then with the .13 print, you'd need .14, and .10 would need .11. If your order had been sitting there for some time, like >1 min, then you'd probably be entitled to that .15 print that you saw. Otherwise, it'll be tough to justify that you should've gotten it.