AI
(reply to PM)
20-day ADV stands for 20-day Average Daily Volume; just sum the volume of the 20 previous days then divide it by 20. OTCs move in bursts of small/no-activity then explode out of thin air on high volume, whereas the 20-day average increases/decreases very slowly as it's based on the volume of previous days.
Penson-clearing brokerages such as Zecco will limit order sizes to 10% of that, which means that if the stock traded small volume before, then you're pretty much screwed since the 10% of already small volume is almost nothing. To place an order whose size is greater than 10% 20-day ADV you'd have to call 'em via phone.
BTW I've checked CBYI and it's on their NON-DTC eligible list; that means the stock has been chilled by the DTC (more often than not, it's usually due to unregistered shares roaming around in the market) and trades take place in certificates instead of electronically; transaction costs are ridiculous and can get as high as $700 per trade. That can exceed the sale proceeds! (although brokerages such as eTrade, Scotty and Fidelity absorb those costs rather to passing them to customers due to the extremely low odds of having someone trade a non-DTC stock).
Since CBYI is at $0.0001 and you haven't much money on it I guess the only way to get rid of those shares would be to use Zecco's "Non-transferable Security Removal Request" as it doesn't incur in sale costs (at least that's what a Zecco rep told me when I asked).
PD: Please use public replies, I can't PM on a free luncher account!
PD2: Good weekend to you too!
20-day ADV stands for 20-day Average Daily Volume; just sum the volume of the 20 previous days then divide it by 20. OTCs move in bursts of small/no-activity then explode out of thin air on high volume, whereas the 20-day average increases/decreases very slowly as it's based on the volume of previous days.
Penson-clearing brokerages such as Zecco will limit order sizes to 10% of that, which means that if the stock traded small volume before, then you're pretty much screwed since the 10% of already small volume is almost nothing. To place an order whose size is greater than 10% 20-day ADV you'd have to call 'em via phone.
BTW I've checked CBYI and it's on their NON-DTC eligible list; that means the stock has been chilled by the DTC (more often than not, it's usually due to unregistered shares roaming around in the market) and trades take place in certificates instead of electronically; transaction costs are ridiculous and can get as high as $700 per trade. That can exceed the sale proceeds! (although brokerages such as eTrade, Scotty and Fidelity absorb those costs rather to passing them to customers due to the extremely low odds of having someone trade a non-DTC stock).
Since CBYI is at $0.0001 and you haven't much money on it I guess the only way to get rid of those shares would be to use Zecco's "Non-transferable Security Removal Request" as it doesn't incur in sale costs (at least that's what a Zecco rep told me when I asked).
PD: Please use public replies, I can't PM on a free luncher account!
PD2: Good weekend to you too!
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