Are the new IB SMART routed option commission prices better or worse for the small (.75 per ) investor?
As far as I know, options are only traded in CBOE. So where else could they route your orders? Where's the "smart-ness"? Contrary to stocks traded in multiple exchanges with slightly different prices.
thanks, now i know where my orders are sent. i was quietly wondering for years. maybe i will go visit that one place that all types of options/derivatives are traded. furthermore, wtf do i need ib for? damn liars with that smart route. i am so relieved!
IB's order routing logic page cites ISE as the default exchange for options listed on all exchanges - the ones I trade 99% of the time. And yet, the order is almost always routed to CBOE. It gets frustrating when you are not getting filled, see trades at your price, and you know that the bulk of the volume is at ISE. It has been this way for years now. What's up with this?