Shorting a stock in SSR

[Abiel 474]

When a stock is in SSR it means the stock is in “Short Selling Restriction” (SSR) mode.  SSR is triggered when a stock is down 10% or more from the previous day's close. In this case, regulators and the exchanges restrict short selling of the stock when its price is dropping. You can only sell short on the ask, you cannot sell short directly to the buyers (on the bid). It means that the priority for selling is for the sellers who currently hold positions (own the stock), not for the short sellers who are wanting to profit from the downward movement. If you want to sell short, you have to queue up on the ask side and wait for buyers to come to you. Real sellers, on the other hand, can accept bids from buyers and get rid of their positions. The SSR is designed to give the real sellers, who own the stock, a priority to sell over the short sellers on the market. 

So, when a stock is in SSR mode, you need to send your orders to sell on the ask, and then wait for an uptick so your orders get filled. One way to do it is using these buttons in the montage so you can send a limit order to a price range and wait to get filled when the stock is in an uptick.

It would be great to hear advice and tricks from BBT members on how to go short on SSR stocks....

[evan 17]

On 12/2/2019 at 9:33 PM, Abiel said:

It would be great to hear advice and tricks from BBT members on how to go short on SSR stocks....

Yeah, that'd be great.  Ran into this problem a lot today for the stocks on my watchlist.

[Abiel 474]

7 minutes ago, evan said:

Yeah, that'd be great.  Ran into this problem a lot today for the stocks on my watchlist.

Evan, see this 

 

[Bryan W 50]

If you are in standalone SIM, for shorting something on SSR you have to change your shorting hotkey to Bid+0.01  It's a "fault" in the SIM order server that would normally be taken care of automatically if you had a brokerage.