Discussion in 'Order Execution' started by Daal, Mar 11, 2009.
I'm trying to buy illiquid CL calls and I'm getting this error message. Anyone know why?
If the computer system can't put a value on the contract (eg. no bid), then it might not be able to work out what margin is required.
Just my 2 cents - might be better to contact IB chat to get an answer and a resolution.
I have seen the same thing a few times recently on EOE options. I have the impression it only happens when there has been no trades in the contract for the day. I for sure has seen it with both a bid and ask.
I think you are right and I'm asking IB about this. The thing is I can live with a $0 mark on these calls and 100% margin, I just want to be able to buy this
Unfortunately, customers currently cannot trade futures options and futures that do not have open interest. eCBOT and GLOBEX contracts are exclusions from this rule.
Why not allow clients to hold the position at a $0 mark and discount 100% of the cost of the position from the margin of the account?
Reasons are completely technical.
Does IB have access to the NYMEX floor? These options can be executed on the floor through a futures account.
We do not trade on NYMEX floor.
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