i have a question about shorting after extended hours are over. i wanted to open a short position on cfc based on the most recent news tonight. on my ameritrade account, i see the last bid at 24.90, but the close was obviously much higher at 28.66. i would assume that the last bid would reflect tomorrow's open, but i have been in this situation before where i submitted an after extended hours order at the bid, and then in the morning the stock seemed to open at the previous close and i was caught offsides. i live in california which means i usually miss the market open in the morning so i'm just trying to get an idea how best to play this.

assuming cfc is still an attractive short at these levels, would i submit an order at 24.90 or 28.66? or should i wait until the market is open (or at least the morning extended hours session opens) before i submit an order?

thanks!

The first hour or so is bound to be volatile. I'd wait at least 30 minutes to get a sense of direction. Yeah, you might miss some of a downaward move, but it could go the other way on you just as easily.

Good luck