Desk Slang · Core
Hit the Bid
To hit the bid is to sell at the posted bid — you are the aggressor lifting liquidity on the sell side, not joining the offer.
Definition
The bid is the price buyers are posting. Hitting it means you cross the spread to sell now. The opposite is lifting the offer (buying the ask). Passive is joining; aggressive is hitting or lifting.
Why it matters
It tells you who demanded immediacy. A tape of ‘hits’ is selling pressure, even if the print is only one tick.
Case
A client ‘gives’ 50mm 10s at the bid: the dealer is long, the customer paid the spread to exit. If five accounts do it in a row, the bid was not real size.
How to read it
Pair with who is hitting — real-money, fast money, or a forced book. The word is about urgency, not direction of the research view.
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