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Wiki Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

dakh

Supporting Member
Supporting Member
Jun 14, 2015
1,140
2,494
Seattle, WA
Folks should make sure they understand the mechanics of market-on-close and limit-on-close orders if submitting them for the first time. The former will execute as close to the closing price as possible - whether or not that's a level at which you would like to sell. Also, they can't be canceled after a certain point...I think 3:58 PM ET.

As close as possible? I thought that is exactly closing price or nothing.
 

Curt Renz

Well-Known Member
Mar 5, 2013
6,919
94,480
USA
I was about to ask for help on the TD site as I can't seem to find the "on close" option. All I have now is GTC+Ext. Maybe it's being blocked?

Which site offers this feature to Sell on Close?

So have a significant number of TMC members decided to stop holding TSLA, and instead make it easier for the S&P 500 funds to buy at a lower price during today's market closing? If so, taxes could be monstrous. :eek:
 

Opus BC fan

TSLA long since 2011
Supporting Member
Dec 9, 2012
633
6,580
At Large
I hate waiting.gif
 

Nocturnal

Supporting Member
Supporting Member
Aug 23, 2018
6,686
35,904
Deepening Crisis!
I can only do limit on close orders in my IBKR account which doesn't have that many shares. I'll probably put a very high LOC for that handful of shares. MOC? Yeah hard pass on that. That's like sticking your shares in a box on driveway with a sign that says "honor system, please pay a fair amount".

Yes. How do they square that circle? Unless they think people place an unreasonably high value on gas' perceived edge for road trips?
They understand that people are irrational and fear change.
 

willow_hiller

Active Member
Apr 3, 2019
3,212
15,851
Maryland
So have a significant number of TMC members decided to stop holding TSLA, and instead make it easier for the S&P 500 funds to buy at a lower price during today's market closing? If so, taxes could be monstrous. :eek:

I'm not planning on selling, but I have set a ridiculously high LOC order in case there's a big imbalance in the closing cross to be exploited. If it doesn't fill, I won't be too bothered. If it does fill, the index funds will have paid off my Model 3 for a relatively small percentage of my TSLA, even after accounting for capital gains tax.
 

Cherry Wine

Supporting Member
Supporting Member
Oct 4, 2018
2,594
20,623
California
I haven't had time to think about this. Too busy today talking to IBKR about holding ITM options expiring today until final minutes before close :rolleyes:

For what it's worth, Rob Maurer just covered this issue on his livestream - he's looking for 130M share demand, expecting a 30M dump out of the gate from extended index funds, etc., for a net of 100M share demand.

He's also really tempering expectations based on conversations he's had over the last day or so from folks who are saying that HFs have been preparing for this for a long time, people can short on close, etc.
 

haid

Member
Feb 14, 2013
97
103
Reston, VA
Remember that scene in "Hunt for Red October" where the Russian sub took the safety device off the torpedo so that it could be used in close proximity? That's kind of like what is happening ...

https://twitter.com/truth_tesla/status/1339953776329961474?s=20


Nasdaq regulators secretly conferred whether to lift TSLA's +10% rally circuit breaker, to allow more liquidity today. Presumably they were worried about an index squeeze halting the stock and amplifying the squeeze.
 

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