Market Hours and Weekends
The US stock market's regular session runs from 9:30 to 16:00 New York time, Monday to Friday. Tokenized stocks and Spout keep running outside those hours, but some things behave differently.
| Action | During market hours | Nights, weekends and holidays |
|---|---|---|
| Borrow and repay | Yes | Yes, with a warning that prices can differ from where the market opens |
| Add collateral | Yes | Yes |
| Withdraw collateral | Between cycles | Between cycles, once tokens are back from the issuer, which does not reissue on weekends |
| Buy through Spout | Yes | Follows the issuer's trading hours |
| Liquidations | Executed | Wait for the next market open |
| Options cycles | Calls written; assigned stock bought back | Calls do not trade |
| Lender deposits and withdrawals | Yes | Yes |
Gap risk
Because liquidations happen in market hours, a stock that falls over a weekend is sold at Monday's opening price, which can be well past its threshold. A larger gap means a larger sale, and in a severe gap a full sale. Gaps matter most on the steadiest assets, whose thresholds sit closest to 50%. See Liquidation Examples, the weekend gap.
How to protect yourself
- Keep your LTV in the safe zone, below 35%, especially going into weekends and holidays.
- Add collateral or repay before the close if a stock is falling and you are near the warning zone.
- Watch company events: earnings, product news and macro announcements can move a stock overnight.