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By ryanair737 · Posted
I'm hoping someone can help me to understand what causes huge spikes in the spread and how best to trade and avoid being caught out in them. I've attached some screenshots of Wesfarmers LTD, a stock in the ASX. When you look at the ask price for 11am 04.12.2023 there is a massive spike in price however the bid price barely moves at all. This would have wiped out any short positions. There is no increase in volume and the market had already been open for one hour before the price change. There was also no earnings or other factors that I can find online which would explain the price move. Can anyone in the forum please help me to understand what the reason is for these type of fluctuations in the spread that only last a minute or so? I've attached screenshots of the bid/ask price for the daily and the 5-minute range. Any advice would be greatly appreciated! Thanks -
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