Imagine a stock went down more than 10% intraday, triggering the short circuit breaker, aka Alternative uptick rule. Short selling is only possible higher than the best bid. But what happens exactly? If I enter a market order, would that mean it would never get filled since it doesnt "ask" for a higher price than bid? What happens if the market order is active, not filled, and the price declines and ticks up, because someone else buys at the ask or the ask increases, can I get filled then?
Secondly, if I use a marketable limit order, would that work? A marketable sell limit has a limit below the bid. It would get filled in a declining market as the spread moves through the limit price, at some point the limit would be above the bid, it would then have a chance to get filled? How likely is that?
Thirdly, bottom line: what is the most commonly tactic used by day traders to sell short during the circuit breaker? And what kind of stats can be provided (how often it works, how much slippage, any statistics help)