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TeachMeFinance.com historic definition... At the opening -- Buying or selling (as stocks ) at opening
Price - at prices prevailing at the opening or beginning of business. Or, buying or selling at the opening of a company's transfer books after they have been closed for an election or
for the payment of a dividend or for some other purpose.
Sometimes a broker receives an order to sell a stock at
the opening of the books, meaning at (on) the opening
of the books of the company which issued it. The delay
in the sale until that time may be because the stock has been
assigned to a specified individual by the original owner instead
of having been assigned (or signed) in blank (see Assigned in
blank) and therefore not being a delivery it is necessary to
wait until a new certificate can be obtained before a sale can
be consummated. In the same way an order may be given to a broker to buy
at the opening (of the books) because stock is unobtainable or
obtainable with difficulty until that time or because the intending
buyer believes he can purchase to better advantage at the
opening of the books than before.
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Copyright © 2007 by Mark McCracken, All Rights Reserved. 
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