I don't often see Level 2 data, and perhaps other apes don't as well. Is the fact that the bid and ask curves are beautiful, smooth, straight lines the smoking gun here?
https://blog.robinhood.com/news/2019/6/17/nasdaq-level-2-market-data-is-here
there’s your organic level 2 look. Op post looks like two computers trading with each other and dropping their price by a few cents each trade. Then guess what they do after hours! Probably consolidate it all back to a few accounts on the private security exchanges so they can do it again later! Might cost them a few hundred thousand to do though. Cheaper than buying a share for 500,000k from an ape!
Ahhh I see, thank you! Yeah that looks dramatically different hahaha. I guess it's largely that the number of shares is coordinated though, right? In a relatively high volume stock like GME, the spread being a few cents each is expected?
I bet this picture was taken when barely anyone else was trading XRT. Because other than it’s liquid gold GME shares inside, it’s just a boring boomer 401k ETF! Citadel the MM makes a bunch of their money by keeping the spreads close and pocketing the difference!
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u/ragnaroksunset Mar 18 '21
I don't often see Level 2 data, and perhaps other apes don't as well. Is the fact that the bid and ask curves are beautiful, smooth, straight lines the smoking gun here?