What order should I be using if I want to sell the shares immediately at extended hours?

Question

Let's say the share is currently trading at 10 dollars and it continues dropping.

Thanks.

Answer 1

"market"

Answer 2

I find myself in this situation quite often. I like to trade off of earnings reports. Especially companies reporting after the market close. My usual course of action is to sell immediately, if the company misses estimates. But how to do this really depends upon volume. Many Large Cap companies have sufficient volume after market that you can go ahead and trade them just like you would during normal hours, so go ahead and use a limit order. Mid Cap companies with less volume may require a market order if you really need to sell immediately. With companies that have an average daily volume of less than 150,000 or so,  it is usually pointless to try to sell them after market, the spread is usually so wide that it's best just to wait until the market opens the next day and hope for the best.

Answer 3

Extended hours orders should be (if not required) limit orders.  They usually also have to specifically placed as "extended hours" orders ("day" or "gtc" orders would only fill during normal market hours).

As far as where to place that limit to sell right away, it would have to be at the bid or lower, especially if that quantity gets snatched up and bids continue to drop.

Answer 4

SELL IT NOW!!!!!  ESPECIALLY IF IT HAS BEEN DROPPING WITHIN THE LAST COUPLE OF DAYS.