Shorting NYSE Postmarket

Discussion in 'Trading' started by Toonces, Jan 9, 2003.

  1. Toonces

    Toonces

    Is there any way to do this? My order always gets changed to a penny over the closing price. Can you buy bullets during extended hours trading?
     
  2. I have bullet accounts with essex radez and susquehanna. Essex radex lets me put bullets on listed after hours, sfg (susquehanna) doesn't. (at least it didn't last time I tried it, a couple of months ago)
     
  3. I thought that outside of regular trading hours, the uptick rule doesn't apply, thus no need for bullets.
     
  4. I think you are correct. I wonder is this is a software issue with some brokers/platforms. I know uptick doesn't apply to NAS post/pre-market, and I think it is the same for NYSE.
     
  5. fatman

    fatman

    after hours you should mark your trades as "sell", not as "short". If you mark it short the ECN will adjust the price to a penny above the last (NYS) print. I think the same applies for premarket.
     
  6. If I mark my trade as "sell" instead of "sell short" it will constitute a violation. I believe that even on nasdaq you have to correctly mark you after hours shorts.
     
  7. fatman

    fatman

    well, perhaps that is the case. I have only been trading for 8 months, but I have never marked my pre/post market short orders anything other than sell and I have never received a violation. another guy at my firm had the same problem that you described and our trade support told us that it had to be market sell and that the uptick rule only apply to market hours. sorry I can't be more help.
     
  8. I can never go outright short below the days settlement

    for nasdaq stocks I can do whatever I want to

    thats the way it has been for me using IB
     
  9. I put in a short order for a NYSE after hours recently. The price was below the last trade (which was higher than the market close). The order was not displayed which led me to conclude that the uptick rule was applied. If I had been long the stok my order would have been displayed.