It is common knowledge that much higher false bids and lower asks are often placed prior to open of trading for particular stocks - to create the illusion of pent up demand.
These bids/asks are often low volume and appear to tease those who are viewing market depth prior to open.
These false bids/asks always disappear just before the stock opens with the stock opening at more realistic levels in relation to previous close price and current market demand.
I have always been curious how these bids/asks are removed a split second before the stock opens and are not transacted.
I am keen to hear your thoughts on how this happens...