|
PureBytes Links
Trading Reference Links
|
Hi Guys,
I don't know who started this thread so I don't know to whom I should address my response. With
listed stocks, your stop is hit when the price is touched by an actual trade at the NYSE or the
AMEX. The bid or ask do not matter, nor do trades at secondary exchanges. On the other hand, with
NASDAQ stocks, your stop is hit and your broker may fill you when the ask is touched on a buy stop
or when the bid is touched on a sell stop. The print does not have to show a fill; you might get
the first (and worst) fill at that price. The best way for you to confirm this is to ask your
broker. Hopefully he or she knows the rules.
Best wishes,
James Charles
JamesinLA@xxxxxxx wrote:
> In a message dated 98-02-04 03:13:40 EST, you write:
>
> << I have a question on stop orders: when is a sell stop order on stocks
> filled?
> When there is an actual trade AT or BELOW the stop, or when the bid falls AT
> or BELOW
> the stop. And is it AT or BELOW?
> Furthermore, is it the same for NYSE AMEX and NASDAQ? How is it in index /
> equities
> options? >>
>
> As far as I know, the "whatever" has to trade at or through your stop price.
> Just because the bid is sitting at your stop, won't trigger your sale until
> there is someone willing to buy at that price. Right?
> Jim
|