If a trader places a Limit On Open Order to short a NYSE Stock, it will not be filled (I am told) unless the stock closed on an Uptick. Is this true AND what tick is considered the Closing Tick? Is the closing Tick the prior days MOC Print?
It depends on whether or not the stock is on the "No uptick rule" (SHO). Then it won't matter. Otherwise, yes, to open at yesterday's closing price it has to be an uptick. So, you "opening only guys and girls" be careful with the SHO stocks...you may end up short at a price under the previous day's closing price (not usually a good idea). Don