correct way to price option-spreads at globex

Discussion in 'Options' started by chithi, May 17, 2012.

  1. chithi

    chithi

    What is the correct way to price option spreads at the globex for options on futures?

    For instance the ES and its options have a tick increment of 0.25. So do the spreads have to conform to the same tick increment? The reason I ask is that in TWS, I see spreads being priced at increments of 0.05, however when I place such an order it just sits there. Its only when I bump it up to be a multiple of .25 that it gets filled. (Perhaps thats because I moved it too far off the mid and someone picked it up) But wanted to see what others have to say? Something akin to a Complex Order Book (that ISE & CBOE provide for stock options) would be helpful for these FOPs.

    IB customer support says that I should pick up the "CME Floor Based" feed, but I am not sure it that it even provides this information.