Timing of purchases? (fund, cash, fees, investor)

[ChessieMom]

I was just reading another thread here where someone recommended SPY...and since I am working reducing the extra cash sitting in my core accounts (it's not a huge amount but probably more than it needs to be), I thought I might buy some. Then I started thinking...it's the weekend...probably should wait...and then I googled it. Found this, which basically recommends purchasing on Monday, not first thing.

https://www.investors.com/etfs-and-f...r-sell-an-etf/

What do you experienced investors do? Does it make a difference whether it is a fund, an etf, or a stock?
FWIW, I have never used a "limit order" when I bought things...never really knew enough about it to do that.

[BigCityDreamer]

I use market orders mostly and I tend to buy on the open. I know some people use limit orders to get in at a specific price. But it seems like taking a chance to me, because the security might not hit that price. If it doesn't hit, then you lose out on the trade altogether.

Anyway, I don't think it's that big of a deal whether you use market orders or limit orders. It is mostly personal preference.

[jdhpa]

SPY is actively traded, there's usually a very small spread between the bid and ask. Unless you want to buy it at a particular price lower than the current price you can probably just use a market order.

Now, if you want someone to pay you to buy SPY from them, you can sell a cash-covered put on SPY. E.g., I see SPY closed at $280.41. You could sell one contract (== 100 shares) on the March 29th put of SPY @$280. The current bid for that put is $3.36 / share. You'd collect $336 - fees, and no matter what happens that money is yours.

If SPY is below $280 / share on March 29th whoever bought the put from you will exercise it and sell you the shares for $28,000.

If SPY is above $280 / share whoever bought it will let it expire worthless. Then you do the same thing again at SPY's then-current price, with a put option that expires on April 26. Eventually SPY will close below the strike price you sold the put at and you'll get the SPY shares.