They absolutely get caught in overlapping orders.
For example, today’s closing auction finished matching at .165. Now I bet there were many who were watching the price action in the last 15 mins of normal trading and thought, “I’m going to buy in the auction and hoping to get hit at .16.
Now the only way to do that is to place a buy order at .165 and hope. Because if you put your order in at .16 you simply go to the back of the .16 queue. So on went the auction and unfortunately for them it matched up at .165 so bad luck for them as they copped the higher price.
But good luck for the traders who bought in during the day at say .15-.155. Now they would have placed their sell orders in at .16 and accepted that but deep down we’re hoping for the .165 match and this time they were in luck.
Hope that makes sense, I think I even cooked myself.
Cheers.
IMUGENE CHART. TA only, page-15938
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Last
5.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $404.2M | |||
| Open | High | Low | Value | Volume |
| 5.6¢ | 5.7¢ | 5.5¢ | $379.9K | 6.840M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 1581916 | 5.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.6¢ | 680013 | 6 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| IMU (ASX) Chart |