Ojai-
First off, are you sure you were'nt looking at round lots of 100. Many quote vendors provide data in round lots of 100. so seeing a 5 actually means 500, but then you 2000 would mean 200000, which would be an awfully large print.
Small prints like that are hard to understand since most that is smaller than even most clients would buy. It could be a market maker trying to flatten out a position. Example...the mm was buying for the client through the day and had a few uneven pieces...995, 1099, etc. and was just rying to tidy things up...outside of that, i guess it could be a small client, an investment club. You might say it was a client getting filled on an order that was displayed to the market, getting pieces at a time...
was it an otc or listed? most listed specialists wouldn't put through pieces of this size, infact they add these round lots to larger pieces and round them off when printing to the tape.
Could be an error in the seller's equipment. The seller is responsible for printing the trade to the tape according to reporting rules. The seller's machine might have been prints 5, 10, 5 instead of 500, 1000, 500....
just trying to give you a few ideas...but who knows...strange.
regards
steve |
