Globex: Native support for spreads?

Discussion in 'Options' started by erlewine, Mar 21, 2008.

  1. Anyone know if Globex takes native 2-leg spread orders in ES options (verticals/straddles/strangles, etc...)?

    i.e. long 1310c/short 1320c for $5 debit limit or better?

    And if the answer is yes, are you trading only against other spread orders, or will Globex automatically execute against a compatible market in the regular order book?
  2. I believe that spreads are not native, for they require the ability to execute market orders based on the desired spread premium. Market orders and stop orders (not stop-limit) are NOT native to GLOBEX. I tried to enter a short straddle on the RAN platform, and it was rejected because "market orders are not accepted by the exchange." I am not sure, but maybe if I called in the order, it would have been executed properly--but the commission is too high. I legged in instead.