bmoochie said:
Heineken-Ashi said:
$3.5B to sell at close
This is something I have never understood and would love a dummy explanation on what it means? Very green on the day but its to the sell side? help a dummy out please!
It's a trade that has to be placed 10 minutes before the close or earlier. It sits until market is close to closing and then goes active and becomes a market order.
Think of it as wanting to close out your position by the end of the day but not wanting to miss anything or get trapped. Mainly used by institutions and heavy volume day trades. The amount can be seen prior to becoming live.
It doesn't necessarily mean anything. But might give some context if you have expiring options on what the last couple of candles might look like.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)