daytraders after market lounge 14th jan 2013, page-13

I remember a few years ago putting some stupidly big buy order at .001 for GER - got a call from Commsec saying I was creating a disorderly market.

Lots of online brokers now automatically reject these types of bids - which caused my great angst as often on very illiquid stock options nearing expiry that hadn't traded in a while, I was making legitimate orders ie the last traded price of a stock option might have been 10c, but the head stock itself had since fallen to 5c or so, and .001 was fair value.

Luckily I found 3 brokers who use common sense and allow such bids.