curiousI was looking at the 2nd level and saw that there is a series of large orders for each step from 0.28 to 0.3. My broker doesn't show the number of orders to make up the total. The cash required for this series is about 150,000. For this to happen, doesn't it mean various people have placed orders and effectively locked up their cash as long as the order is not filled. I have a hard time understanding this sort of thing. Why would you "park" cash further down the chain.
The only reason I can think of is that there is a history for TLT of someone suddenly selling a chunk of shares and crashing the price in one day. I think the work manipulation gets tossed around a lot so not going to use it. Is it possible that some smart people have placed some placeholder orders so that if anyone tries to briefly dump a bunch of shares they can get them cheap? There have been times I've seen in drop 12% in one day and then swing back to baseline by end of day and I feel regret that didn't grab any of the shares when briefly cheap.
If anyone tries to crash the price trying to sell to themselves, I can see that these orders are a nice disincentive as you won't be able to crash the price and keep the shares for yourself.
Any other explanations.....?
108000
0.30