I always believe that if bid/offer matters then you have the wrong strategy - at least as a buyside/prop trader type.
I'm a bit confused here. Having read much about IB passing through cancellation fees, I saw on their website footnote; http://www.interactivebrokers.com/en/p.php?f=otherFees under the Options tab, [1] Neither cancel/modify fees nor execution credits are applied to US Option combination orders. Seems to me combo orders pretty often need adjustment to get a fill, unless you trade at the Ask / Bid. Can anyone clarify this?
knowing marketability helps! i don't keep track well.. i just know if i've made adjustments my commissions go up...
I just put on a real trade; BOT 1 QQQ Dec 21 '12 +63 -(2)66 +69 Call Butterfly -1.53 SMART Dec 4 23:45:48 5.45 No modifications so that is the vanilla commission + fees passed through. BTW, is there a way to copy that trade description to Excel? TWS does not even allow me to highlight and copy off the page.
you can drop and drag from options trader to your main tws panel.. then you can right click and copy is available .. you might need to click the arrow on the drop down to see additional options to see cut/copy.. or in your trade log.. you can right click copy... thats what i do .. i don't know api .. i'm sure through the api there is a trade log.. i couldn't find a way to retrieve trade log via api at first glance http://www.interactivebrokers.com/e.../realtimeactivitymonitoring/the_trade_log.htm
a good friend interviewed at a sizeable HF the other day... comes back and gives me this quote, "we aren't a quant fund. we pay the bid/offer." just to reiterate your argument