| You
want to sell 100 shares of XYZ and decide that the opening
price for this stock has historically proven to be the best
price of the day. You click the Bid price
to create a SELL order, and select MKT in the Type
field to specify a market order. In the Time in Force
field, select OPG to have the order submitted at
the next day’s opening. The word MARKET appears in the
Lmt Price field to illustrate that you are willing to sell
at the market price. (If the equity trades on NYSE, AMEX or
SuperMontage, you can route directly to the exchange. For
other stocks, you must route through SMART, and IB will simulate
the order by submitting it as close to the market’s
opening as possible.) |
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