SPY Purchase

Discussion in 'Trading' started by CONR, May 17, 2006.

  1. CONR


    I asked a similar question last week and never got a clear explanation. I'm hoping somebody can help me out this time.

    I was watching the T & S of the SPY today and noticed a strange, (at least to me), purchase at 2.35 CT. There were 2+ million shares purchased at $129.449 and the B & A were at 127.67 & 127.65 respectively. What exactly happened?

    Thanks in advance.
  2. CONR


  3. CONR


    I guess nobody knows what happened. I thought there were a lot of people on here who had lots of knowledge and willing to help somebody who doesn't know as much.
  4. a block hit the tape late is my guess
  5. a block was probably crossed OTC then sent to the tape some time latter. I forget the exact time in terms of minutes they have to report it.....it's been a long time since I took the S7
  6. ktm


    Looking back now, I see a trade at that exact time on the 17th for 200,000 that was "inserted". This could have been a late reported block, although the SPY never traded that high on that day. I suspect it was a typo that was later corrected to reflect a more accurate price.
  7. happens all da time on stocks to see prints goin' off at prices never touched...sometimes many times over on hot securities...sure they negotiated trades but not so sure if they are typos...waay too many to be all wrong prints and at strange spots, usually supp or res.
  8. CONR


    Thanks everybody.