I just checked live Bid/Ask Quotes for XPeng Inc (XPEV) in Nasdaq website and i notice that there are lot of 100 volume trades. Also i chekced other stocks and they also have same trades of 100 volume.

Does anyone know why is this happeing?


  • Stock typically trade in blocks of 100 on most exchanges, so seeing the minimum lot size does not seem that surprising. is the number of 100-share trades different than what you've seen for this stock before, or does it just seem unusual to you?
    – D Stanley
    Commented Nov 16, 2020 at 22:16
  • 1
    It just seem unusual because i didn't know stock exchanges trades stocks in block's of 100.I thought it have to do with something like stock manipulation. I have another question then, when i want to buy just 1 share i have to what some other people to buy the rest of 99 stock of block so the order can be executed? Commented Nov 16, 2020 at 22:50

1 Answer 1


An Odd Lot is a number of shares less than 100.

A Round Lot is 100 shares of stock and any number of shares that is a multiple of 100 is a round lot.

An order for a number of shares greater than 100, but not a multiple of 100 is called a Mixed Lot.

You can trade any number of shares that you like but odd lot orders are not posted to the bid/ask data on exchanges (NBBO) and they are not reported on most public data feeds.

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    To follow up on this, back in the old days (at least through the 1980s), odd lots and mixed lots carried a MUCH higher commission. Faster computers and networks allowed for easy trading of other-than-round lots.
    – RonJohn
    Commented Nov 16, 2020 at 23:35
  • @RonJohn - LTNS. Carrying this a bit further, odd lots are routed differently than round lots and because of that, round lots are filled faster. In addition, round lots are protected by NBBO and therefore, odd lot orders don't necessarily get the best fill. Commented Nov 16, 2020 at 23:54
  • Does that also hold true for ETFs?
    – RonJohn
    Commented Nov 17, 2020 at 1:04
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    In terms of execution, an ETF is no different than a stock. Commented Nov 17, 2020 at 1:23
  • @BobBaerker You be interested in answering this question: Are there advantages in buying round lots rather than odd lots? by mentioning the speed and NBBO protection advantages of round lots.
    – Flux
    Commented Nov 17, 2020 at 2:32

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