IB Error: "Could not value contract at this time. Order might be invalid'

Discussion in 'Order Execution' started by Daal, Mar 11, 2009.

  1. Daal

    Daal

    I'm trying to buy illiquid CL calls and I'm getting this error message. Anyone know why?
     
  2. m22au

    m22au

    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.
     
  3. jsor

    jsor

    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.
     
  4. Daal

    Daal

    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
     
  5. ids

    ids Interactive Brokers

    Unfortunately, customers currently cannot trade futures options and futures that do not have open interest. eCBOT and GLOBEX contracts are exclusions from this rule.
     
  6. Daal

    Daal

    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?
     
  7. ids

    ids Interactive Brokers

    Reasons are completely technical.
     
  8. ids,

    Does IB have access to the NYMEX floor? These options can be executed on the floor through a futures account.
     
  9. ids

    ids Interactive Brokers

    We do not trade on NYMEX floor.