Buy-Write on IB/Globex question

Discussion in 'Options' started by jwcapital, May 16, 2009.

  1. I attempted to execute a buy-write using futures (ES) and futures options on IB/Globex. I received a notice stating that the buy-write was not recognized. Is there a way, using the generic combo feature, to create this buy-write? I tried using the generic as well as the single tab. I think I discovered the problem, but I am not sure. When I entered the underlying and the exchange, "buy-write" did not come up as a user-defined trade--perhaps it is the nature of IB or GLOBEX. If this is true, then the only way to enter a buy-write is using the basket trader feature OR legging in. The problem with either is getting a decent execution for the short option, since the spreads are wide. Anyone have any suggestions?
  2. If you are sure that this is what you want to do, you can get the same exposure by simply selling a naked put. Less commission and spread that way.
  3. I know this--my question is one of logistics. Anyone?