I was having an argument with my father about short selling a NYSE stock. So, I want someone else's opinion on this forum to settle the matter. When shorting a NYSE stock, how does one know at what price to enter in the limit order to comply with the uptick rule and hopefully get a quick and good entry price? Yes, we are new to trading, so please forgive us novices...
You must mark the trade as short. If i want to short a stock i will put a limit order below the current market 10 or 15 cents. The specialist will fill you at the first possible price, as long as there is an uptick within your limit order range.
Seems like the specialist often takes his time fill short orders also, almost like it is the last item on his list.
Your broker should take care of it. All you need is an uptick which can be the last trade (if it was an uptick) or 1 penny higher.
you short a stock, and while you are in short position the stock is halted and go to Chapter 11 without no trading day until the corporation is out of business? Does you trade is cancelled, or if the value is evaluaed as 0 and the duiffrence is put in your account? Does someone know the answer? Regards,