RE:RE:Fight Back Against ShortersI've heard about this for a few years now and I've also done it in the past!
The order has an expiry date usually 3 months, then you roll it over as it gets close to that date.
Looking at the Level II stack (see image below) you can see most retail brokers will allow this, usually the order has to go through review before being processed, your trading software may also give you a warning message.
Interestingly no one has been able to tell me what the review is looking for or why a order would be rejected just because it is unlikely to be filled when placed at a really high price.
The fine print of retail account agreements from TD, RBC, Scotia, BMO, etc etc says the company "CAN" lend your shares from time to time if they want (they make money doing this) so we know this happens!
My theory is by putting a far out order for sale would reduce the inventory of shares the broker
has available to lend. Even though unlikely to be filled, they would need to check their inventory to see if the new order will make their book net short, meaning they might now have loaned out more shares than they currently have in inventory if they place your order.
I would think their risk management would not allow them to loan out more shares than they have because you never know when another GME will happen.
Still I don't really know if putting our shares up for sale actually forces them to not be able to lend your shares, it does make some sense though and, it also makes sense that they would not want this to be public knowledge.
Would be great if Mr. Lynch could get a definite answer on this question!
It would also be interesting to see if a bunch of us did this if the behaviour of how CRE trades changes!
Here's CRE current Level II stack, it currently goes up to 20 dollars!
[url=file:///C:/Users/mark-1/Desktop/CRE%20L2%20Ask.JPG]Levell II[/url]