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Why wouldn't a stock sell below the bid-ask spread?

Personal Finance & Money Asked by Lowbrow on January 29, 2021

In the TD Ameritrade cellphone app and in the browser site (I tried both) in post market after hours, I can’t seem to sell Facebook at $261.06 a share even though the bid is 261.30 and the ask was 261.80. There is 20 million in volume. It’s set to GTC and FIFO. What am I missing here?

2 Answers

You mentioned in your comments that you changed your order type from GTC to GTC_EXT and it worked. GTC_EXT stands for Good Till Cancelled Extended hours. Yes so you need this in order for your orders to fulfill after hours.

Answered by Samip Suwal on January 29, 2021

On TD Ameritrade, an order submitted as GTC (Good Till Canceled) will not execute during after-hours trading; it can only execute while the market is officially open (usually during the hours of 9:30 am to 4:00 pm, US Eastern time, on weekdays).

To get an order to execute during after-hours trading, you can submit it as GTC + Ext (Good Till Canceled, with extended hours).

Answered by Tanner Swett on January 29, 2021

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