What is the spread in SPY at midnight on TD Ameritrade?

Discussion in 'Retail Brokers' started by Math_Wiz, Apr 11, 2020.

  1. Math_Wiz

    Math_Wiz

    I see TD Ameritrade offers 24/5 trading in a number of ETFs including SPY and IWM.

    I'd be curious to know what is the spread in SPY in the overnight hours (such as midnight or 2am) on TD Ameritrade?

    Thanks,
    Math_Wiz
     
  2. Math_Wiz

    Math_Wiz

    Also, if I trade during these hours, am I trading strictly with other TD Ameritrade customers, or is this overnight market traded by other brokers as well?
     
  3. JamesJ

    JamesJ

    They will have to give you the NBBO or better when off exchange markets are open. Spread is usually very small, only 5 to 6pm spread are up to 10 cent in spy (no Futures trading to hedge).
    After hours is from 4pm to 8pm, premarket to 4:00am to 9:30 am.

    If they offer a spread >10 cent (which is more than likely) from 8pm to 4am i would avoid it and trade ES or MES instead...
     
    Cdntrader and Math_Wiz like this.
  4. ajacobson

    ajacobson

    Virtu is making the market and spreading against the ES.
     
    Math_Wiz likes this.
  5. What kind of size can you get in SPY at midnight?
    Can you buy 5-10k shares or just odd lots at that time?
    Thanks