Iggy’s Journal: Own Fewer Than 100 Shares? What an Odd Lot Is, How It Trades and What It Can CostWed 4 Nov 2026 | Midday…
Iggy’s Journal: Own Fewer Than 100 Shares? What an Odd Lot Is, How It Trades and What It Can Cost
Wed 4 Nov 2026 | Midday
The Numbers
A board lot is 100 shares, so an order for 50 is an odd lot. It can still be traded, through the Unit Share Market, which has its own bids and asks. In a made-up example, buying 50 shares costs S$200.00 at the main board ask and S$202.50 at the odd-lot ask, an extra S$2.50. Selling later at the odd-lot bid leaves S$197.50, so the round trip loses S$5.00 from the spread alone.
My Personal Take
Permission is not what I question here, because a 50-share order is allowed. The price is the part I want to understand, since the odd-lot bid and ask sit in a separate market from the main board. That leaves me with two questions. What does the separate market charge through its spread, and on a small order, when does a broker’s minimum fee matter more than that spread? The episode takes the 50-share order from the first bid and ask to the sale and totals the cost at each point.
📺 YouTube: https://youtu.be/I-POoVa-kWM
Cheers,
Iggy 🦖
Not financial advice. Iggy’s Forensic Compliance Standards apply.
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