RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Titanic EconomicsFair question, so the reason is before the age of the "Fed's ETF reverse stuffing quant dialed markets", we used to leg into the security almost one buy per day unless big moves, for ten trading days straight, all in order to achieve a dollar cost-averaged adjusted cost base (ACB) for ten positions.
However, now in these times of working under the rules of a "Fed Dial", this results in us having to operate more rapidly (ie: with +/-1600 points on a day's turn/Fed whims), to purposefully explode the VIX market (ie: wind up XIV-N) or whatever they choose to attack. Thus, we now make buys/sells less often - but with much larger positions being taken at one time (ie: ten or fifteen units at a time) instead of one position, per trading day only.
Contra_Folk use the term, "...as now filled" which means the target security is already bought and filled at its stated price.
Simply stated, if the Fed markets a vol slow down, then the amount we placed at risk, as targeted to be purchased, is delayed and spread out (ie: not "as now filled" but rather purchased over several distinct trading days). This technique thereby allows for taking maximum advantage of the mantra of dollar cost averaging techniques. So, if the Fed's dialed markets move we'll be buying/selling with two hands and large positions, but if they don't move we'll add to positions over a longer legs of time. The Fed drives the purchase timings of buys/sells and that is why we give purchase/sell descriptions this way and just don't just say as filled XYZ 1000 @ $5.98.
Hope that helps understand our buying small share blocks over many trading days. GLTA