end of day trades - pls explain, page-10

ok. at preopen and preclose, there is an overlap region where the highest OfferToBuy price is more than the lowest WillingToSell price.

you then tally up the number of shares on the offer to buy side starting from the highest OfferToBuy price working yourself down.

at the same time, you tally up the number of shares on the willing to sell side starting from the lowest WiilingToSell price working yourself up.

you try to get the two above numbers to equal other but at the point where both are at the same price point. that becomes the opening or closing price. call this the matched price.

anybody who has an order in to buy at a price above or equal to the matched price gets his order fulfilled.

anybody who has an order to sell at a price below or equal to the matched price gets his order sold.