Level II Theories Id love to hear anyones feedback on this.
So Ive been watching the Level 2 for the last couple of days and Ive been trying to figure out whats going to happen next; Ive got 2 theories. Im starting to believe more in the second theory
Theory 1:
We are getting ready to blast off and the reason there are so many bids at 0.51 is to set the floor price. But if this is the case like someone made the point in an earlier post, why arent they getting snapped up; I have no idea.
| Orders | Shares | Bid | Ask | Shares | Orders |
| 3 | 12,000 | 0.52 | 0.53 | 46,000 | 9 |
| 11 | 527,500 | 0.51 | 0.54 | 37,000 | 7 |
| 10 | 96,000 | 0.50 | 0.55 | 77,500 | 8 |
| 1 | 500 | 0.495 | 0.56 | 3,000 | 2 |
| 2 | 32,500 | 0.49 | 0.57 | 22,500 | 2 |
Theory 2:
I think having so many bids at 0.51 is to protect the SP from falling while it allows everyone to sell for that price or just above it. I keep seeing the ask prices and order size flucuate so much.
Love to hear everyones thoughts. Cheers.