Baytex Energy Corp T.BTE

BID - ASK DEPTH?

[riddler]

On a few occasions, I have posted level 2 for the Board. I did more of it last year. I will post it tomorrow for all to see during the day a number of times. What will we see?

There is a pattern that has developed in the bid - ask for BTE on the TSX that is not seen in many of the other oil stocks. I have not seen it on the NYSE listing. 

Lately, the volume is lower. The day begins with a bid - ask volume that you might see with other oil stocks. But during the day at different times very very heavy volumes appears suddenly on either side of the bid - ask that could lead could one to conclude that the SP is being manipulated? or being range bound by market makers? Nevertheless, the depth on either side of the bid-ask during these times is suddenly very very deep. As well, the very large volumes disappear from the Level 2 chart once the TSX closes at 4pm. Below is the level 2 after close.  

10	26800	5.18
6	11300	5.17
9	10700	5.16
21	31300	5.15
4	8800	5.14
4	7400	5.13
9	4100	5.12
3	3400	5.11
14	22100	5.10
1	8000	5.09

Level 2 quotes summary

Ask	Total size	# of ordersNumber of orders
5.22	4400	2
5.23	17100	6
5.24	7700	6
5.25	17500	6
5.26	16200	5
5.27	38400	3
5.28	20200	5
5.29	7200	3
5.30	73800	16
5.32	1500	3

  

[Kelvin]

Thanks Riddler, So, from the level 2 that you posted can we say that any bids above 5.27 would have been settled at 5.27 unless there were a volume of bids above the 5.27 wall volume and that any asks below 5.15 would be settled because of the large number of bids at 5.15?  So the trading range for the day is set between 5.15 and 5.27 with mid point at 5.21 which happens to be where the sp