RE: STUFF26 Nov 2025 16:57
Jimmy
I put your question through ChatGPT
Here's it's response
Short answer: No — that calculation is not correct.
On NASDAQ, the sizes you see (1, 10, 28, 50, etc.) are the actual number of shares, not lots of 100.
✔ What you’re probably thinking of:
Historically, markets used to trade in round lots (100 shares) as the standard unit.
But modern electronic trading allows odd-lot trades (any size below 100) and they are extremely common.
✔ How to interpret what you're seeing:
If Time & Sales shows a trade of 50, that means:
50 actual shares were traded
Not:
50 × 100 = 5,000 shares (no longer how NASDAQ reports trades)
✔ Example using your example price ($165):
A print of 50 = 50 shares × $165 = $8,250, not $825,000
A print of 10 = 10 shares × $165 = $1,650
A print of 28 = 28 shares × $165 = $4,620
✔ Why you’re seeing odd numbers like 10, 28, 50:
Because:
Retail orders come in all sizes
Market makers break up or fill orders in pieces
Algorithms commonly execute micro-size slices (odd-lots)
✔ The only place round lots still matter:
Level 1 quotes on some platforms treat 100 shares as a “round lot” for NBBO quoting
But actual trade prints are always actual share counts.