IB smart route may at first route your order to CBOE, then the next day you find your order on ISE, which is a good thing. However, do you keep your place in line at that point, or does it re-route again?
I used to put in GTC orders at 4:14 so I could be first in the queue in the next morning. This worked really well so I never questioned it. However I noticed that the orders were often re routed so now I wait until 9:25 to place my orders, although usually it is the same thing I would have done the previous day and the results are about the same.
Thank you. It seems when you buy-at-ask many orders go through on PHIL. But when you are buying at bid, orders go on CBOE, and end up on ISE. Has that been your experience?