Extended Hours trading refers to trading that takes place outside of normal stock market operating hours, generally 9:30 a.m. – 4:00 p.m. ET. Extended Hours trading can take place on eligible securities during pre-market and after hours sessions. Trading during the Extended Hours sessions can be illiquid and volatile. Please read about the unique rules and risks related to Extended Hours trading.
Extended Hours trading is available for equities, exchange-traded funds (ETFs), and options. OTC Bulletin Board and OTC Markets (formerly Pink Sheets) securities are not eligible for the Extended Hours sessions.
Limit and Reserve orders are the only types of orders available during the Extended Hours sessions; Reserve orders are not available for options. Orders placed for a pre-market or after hours session are only good for that specific Extended Hours session, and if the order does not fill, it will cancel by the end of that session. For equities and ETFs, there is the Time in Force (TIF) of "Day+" that can be used to cross between sessions; a Day+ order could be placed in the pre-market session, cross into the standard session, then cross into the after hours session.
- Stocks/ETFs: Pre-market and after hours trading is available using the Directed Trade & Extended Hours ticket.
- Options: Pre-market trading is available on a limited number of index options using the Directed Trade Options or Multi-Leg Options Trade tickets. After hours trading is not available for options.
Important: To understand the additional risks of extended hours trading, read the Directed Trading for Equities/ETFs User Agreement (PDF) and Directed Trading for Options User Agreement (PDF).