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15 minutes away from the Robinhood retail options dump. It is typical for Robinhood to sell all options that the holder does not have cash to exercise about an hour before close.
Wow I think you called it!

That's likely the case amid an unusual (due to TSLA) S&P rebalancing colliding with Triple Witching Day options expirations. When the call options are sold, the market makers who originally wrote them feel compelled to sell their hedging shares.
 
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That said, if the cross closing price is higher than your limit order, it looks like it would probably execute (unless there were other orders ahead of yours with the same limit price). However, if I were to do this, I think I would place the order just as a regular hours order and then, if it doesn't execute, enter it as an extended hours order. KISS principle.
That's a huge clarification I'd love addressed by those in the know. The info a few pages back said that normal GTC limit orders ARE included in the cross that processes directly at 4:00.

Edit to add: Therefore, no need for an AH order.
 
Just to be sure.....normal GTC limit orders flow right into the closing cross, correct?

There's no need to set some other type of order specifically for the cross?

Correct. That's detailed in this PDF: https://www.nasdaqtrader.com/content/productsservices/trading/crosses/openclose_faqs.pdf

I picked LOC because I think if there is a big spike, it will be created during the bid/ask pairing during the closing cross. So if my limit + $1 is met at 3:59 PM, the GTC would get filled, but the LOC won't get filled until after the cross closing price is calculated (which could be much higher than limit + $1).
 
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Keeping the thread from public eyes.

Edit: A thread only visible to members of TMC (and possibly only paid members) would be a fair compromise in google not picking up content, but anyone able to find the thread if they really looked for it.
I read this thread for 3 years before joing TMC. I did not join for the content, I joined to be able to block the "birds".

If this content was blocked from the public, I would stop contributing immediately.
 
So what is stopping index funds to just use limit orders and pin the price at closing price to decrease variance? Say it's 660...over 100 million shares have this limit order. Bids higher than this doesn't get bought..so either you sell it at 660 or bust. And they don't have to fill the entire order in the last 5 mins.

This is almost like a company who just got bought out at x share price. And the stock just instantly pin to that share price.
 
Correct. That's detailed in this PDF: https://www.nasdaqtrader.com/content/productsservices/trading/crosses/openclose_faqs.pdf

I picked LOC because I think if there is a big spike, it will be created during the bid/ask pairing during the closing cross. So if my limit + $1 is met at 3:59 PM, the GTC would get filled, but the LOC won't get filled until after the cross closing price is calculated (which could be much higher than limit + $1).
Makes sense, thanks! I don't have to worry about that with the nosebleed limits I have in place, just wanted to make sure they get processed if there's demand.
 
Wow I think you called it!
I plan on exercising my one $650 Calls contract and getting my discounted shares (if this day plays out as expected).
Someone always manipulates the stock price down below peoples profit level RIGHT on the minute that Robinhood does the sell off on Fridays. I think it is the front runners that Robinhood uses so they are screwing their own clients.

That red line is what I am guessing (I drew it around Wed of this week) was the average profit line for Robinhood Call buyers. Notice how it dipped below it right at the sale moment. I know it was the sale moment because I have the CASH in my account to exercise YET for some reason Robinhood automatically canceled my sell on the option that I have at set to sell at $62. (it should never get that high) I reset the order and sure enough a few minutes later it canceled it again so I reset it again. They are trying to "accidentally" close my Call.

I like Robinhood for the easy of use but you have to keep an eye on them or they will screw you every chance they get. When you complain they are typically just like, "Oh well.... so sorry." They just canceled the Call for a third time.... geesh. Someone is desperate for shares to dump.

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