Help with IB wont execute my limit option spread order..screenshot

Discussion in 'Options' started by newguy05, Apr 9, 2008.

  1. Why wont it execute my limit order to close the call spread when my limit price is hit!! It just stays like that until the ask moves out of the range again...I even tried to increase my limit to match the ask, and it still wont am i doing wrong.
  2. Which contract are you trying to trade?
  3. Bull Spread: (1) ESJ8 C1400 - (1) ESJ8 C1450

    It just executed my trade. But geez that took a long time, i still like to know why it didnt do it when the bid = ask.
  4. Ok I don't think the issue was IB. Looking at those contracts they are showing a fairly low volume for the day. Chances are the price was hit and IB was offering your position but no one actually wanted to buy it at that price and time.
  5. sorry i dont understand, if the price (ask) was hit how could noone wants to sell it? Doesnt ask mean someone is selling at that price? (i am trying to close a short call spread, so buying the call spread to cover)

    Also it's not a all-or-none order, so it should executed at least partially

  6. Someone may have been in front of you in the queue to buy at that price, leaving you waiting for the next to come available.
  7. Options are not quite the same as stocks. The bid/ask of options fluctuate based on the underlying stock so even with zero volume you will still see bid/ask that are fluctuating. Just none of them are changing hands. Options can get dangerous when trading contracts that have low volume.
  8. Div_Arb


    Specialists are not required to execute a spread order. Next time, leg out of the position - you will probably get better prices and quicker fills.
  9. There is no specialist in the product he's trying to trade.
  10. Geez man, if bid = ask it should execute. Probably a routing issue, if you were using SMART. Keep an eye on the exchange that it is routed to. Smart can be very slow to switch to a better price.

    If your order was routed to CBOE and the 3.25 was fron ISE, for example, that would explain the non-execution.
    #10     Apr 9, 2008