In some low volume stocks, I have been the only trader in the stock. Sometimes, I trade 80% of the volume per day, sometimes 120% of the volume (the specialist does not report all of my trades) If you are a trader, what will you do? 1, close all positions, since there is no other trader trading with you. 2 scalp bid/ask difference, since you are the market maker 3, buy buy buy to push the stock high then sell sell sell to cash out. 4 act differently depending on if it is on AMEX, NAS, because there is also a specialist making the market againt your orders.