Market On Open (MOO)
You are viewing X_TRADER Version 7.17 and higher. For earlier versions, click here
A Market on Open order sends Market orders during the pre-opening period, intended for execution at the opening market price. This order type is not available through MD Trader.
Because the order is intended to execute at opening market prices...
- MOO orders must be Market orders and cannot be Limit orders.
- You can only specify a quantity, not a price.
To place a Market On Open order...
- Click in the appropriate expiration on the bid or ask side of the Market Grid to seed the Order Pane with a contract.
In the Order Template section, select Market in the Order Type list.
This disables the main Price field.
- Select On Open in the Time-in-Force list.
- Specify the order quantity.
Set the routing and/or customer information.
Note: You can setup routing rules and customer profiles, or use the <Default> profile. Refer to Creating a Customer Defaults Profile
- Click Buy or Sell once you have entered the desired order parameters to submit the order..