Scanner field guide
Read the halt. Keep the source.
Read trading halts with the source and status attached. Gapperz keeps official halt context, price-band information, and inferred activity conditions distinct so a pause in trading becomes a clearer research question.
By GapperzUpdated
A condition. A state. A pause.
Keep the market rule separate from the official status.
- Price bands
A permitted range around a reference price.
- Limit state
A qualifying quote reaches a band. The state can clear.
- Trading pause
A persistent limit state can lead to an exchange-declared pause.
- 01Use the listing exchange's status and reason code for an official halt.
- 02A price band or limit state is distinct from a declared trading pause.
- 03An announced resumption time is source information, not a countdown prediction.
First, establish what is known.
A stock can stop trading for different reasons, including pending news, a regulatory issue, or a volatility-related pause. The first task is to identify the reported status, its source, the effective time, and the reason code. A chart that stops printing does not establish an official halt by itself.
Gapperz distinguishes official halt information from inferred conditions such as unusual trading silence. That separation keeps an observation useful without overstating its authority. The public Nasdaq halt source remains the reference for the current exchange-reported condition.
This guide explains the workflow and terminology. It is an evergreen reference, rather than a public live list of today's halted stocks. Use the linked exchange source for current notices.
A band is a boundary; a pause is a status.
The Limit Up Limit Down plan applies price bands to covered U.S. equities during regular trading hours. Its reference and percentage parameters define the permitted range. A qualifying quote at a band can create a limit state, which can resolve without a trading pause.
Under the plan's ordinary limit-state process, a state that does not resolve within 15 seconds leads to a trading pause declared by the primary listing exchange. The rules contain resumption and extension provisions, so a general pause duration is not a guaranteed reopening time for a particular stock.
In a scanner, keep price-band proximity separate from an official pause. Approaching a band, entering a limit state, and receiving a halt notice are three different observations. The illustration shows that relationship rather than predicting the next state.
Let the reason code narrow the question.
Nasdaq publishes a reason-code reference. The selected codes below help separate a news process from a volatility process; they are not a complete list. Read the current notice and its timestamps together with the code.
| Code | Meaning | Research next step |
|---|---|---|
| T1 | News pending | Look for the issuer's forthcoming announcement. |
| T2 | News disseminated | Read the released information and current status. |
| T3 | Resumption times | Check the notice's quotation and trading times. |
| LUDP | Volatility trading pause | Read the official pause and resumption information. |
Use the pause to organize the evidence.
Keep the most recent trustworthy observation in context: its timestamp, last traded price, official state, and source. A halted symbol naturally stops producing normal trades; that is different from a transport problem affecting the whole workspace.
Check the authority and time.
Distinguish an exchange notice from an inferred activity label. Keep the effective halt time separate from when you first saw it.
Read the relevant publication.
For a news-related notice, follow the issuer release or SEC filing. Read the event terms and publication date, not just the headline.
Use announced resumption information.
Quotation and trading times can be separately stated. Return to the source for updates rather than extrapolating a reopening time.
Reassess the fresh observations.
After a confirmed resumption, inspect current quotes and prints. A pre-halt price is historical context, not a promised execution price.
A few useful answers.
Does no trading activity prove a halt?
No. Trading silence can be an inferred condition. Use the official exchange source to establish a reported halt, reason, and effective time.
Are LULD bands active during premarket?
The LULD plan described here applies during regular trading hours, 9:30 a.m. to 4:00 p.m. Eastern. Other halt reasons and market rules are separate.
Will a paused stock reopen after exactly five minutes?
A general pause interval does not establish the resumption time for an individual security. Check the current listing-exchange notice and any announced updates.
Does Gapperz predict which stock will halt?
This workflow presents observed conditions and source-labeled halt context. A band-proximity observation is not a prediction or an official halt notice.
Sources & editorial notes
Prepared by Gapperz using our scanner definitions and the primary references below. The examples are illustrative; the public methodology explains how we label data and research context.