Monday, December 30, 2013 4:25:57 PM
So for LKEN you could put in an order for 50,000 shares and have a special condition that says "minimum quantity 10,000" which means it wont fill you anything unless its at least 10k shares.
The plus side of this is that you wont ever get burned with 1 share bid whacks. the downside is if there are several sells throughout the day of say 5000 share blocks....you wont fill any of those.
here is what the order screen looks like in Schwab: http://clip2net.com/s/6uW6N3
In Think or Swim its called an "order condition" and in DAS Trader its called an "Advanced Order Option". I'm not sure where you would find it in Scot, but I'm sure it is there somewhere.
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