Definition
A Market-On-Open order is executed at or near the official opening price. Traders use MOO orders to react to overnight news or to establish positions at the day's starting price. These orders are entered before market open and participate in the opening auction process.
Example
After positive earnings released pre-market, a trader submits a MOO buy order to capture the opening price.
FAQ
What is Market-On-Open (MOO)?
An order to execute at the opening price of the trading day.
Why is Market-On-Open (MOO) important?
Market-On-Open (MOO) helps investors evaluate order types and make more informed decisions.