ib INTC options problem routing to AMEX

Discussion in 'Retail Brokers' started by entern, Aug 27, 2003.

  1. entern

    entern

    Hi,
    anyone having problem of sending direct BUY orders to AMEX while trading INTC options ? The order stays status blue and never comes through.. and never appears on AMEX...
    However direct SELL orders work fine...
    This problem concerns all INTC options, both put and call ones...
    This problem is on for three weeks now in my case...
    Anyone has similar experience?
     
  2. def

    def Interactive Brokers

    Try routing via SMART. The AMEX is notorious (at least was last time I spoke with someone) for turning off their auto-X system. For a specific issue like you mention, send a mail to the help desk with details of a specific time and order which they review.
     
  3. entern

    entern

    Can you or anyone please try setting AMEX buy order on any INTC calls/puts and let me know if it works for you ? (I did try writing to ib helpdesk and I've been getting various answers from them , like f.e. You cannot set buy and sell order at once etc.)
     
  4. def

    def Interactive Brokers

    just sent in two buy orders. 1 via SMART and 1 direct to AMEX. Both went green immediately. (sept 27.5 call)
     
  5. I entered a SMART order which was sent to the PHLX and turned GREEN immediately. (Buy Sep 25 call)
     
  6. entern

    entern

    freehouse, can u try DIRECT buy AMEX order ?
     
  7. Just did a direct to the AMEX. It went GREEN. Sep 25 call.
     
  8. samaritan

    samaritan Interactive Brokers

    You cannot have a simultaneous buy and sell order in the same option underlying at AMEX. So if you already have a sell order working at AMEX, the buy order will not get submitted.

    Hope this helps.
     
  9. entern

    entern

    yes, not my case..
    btw that's exactly what ibhelp answered me....
    Maybe I am putting my question wrong..
    I never tried to put AMEX BUY order when ANY Sell order from the same option was on..

    however I still cannot send Buy orders , but can send Sell orders to AMEX. I never had intension to post sell, when buy is on, or post buy when sell is on
    I suspect none of ib clients can sent buy DIRECT orders to AMEX now. I asked a few on irc and they had problem with it too..
    Also if u check activity on AMEX bid and are a bit experienced ,u can see this
     
  10. def

    def Interactive Brokers

    I have almost 20 years experience trading options. I just routed another direct limit buy order to AMEX on the 27.5 sept calls (market was 1.15 - 1.3) and NBBO is 1.20 at 1.25). My bid went green immediately. Perhaps you are trying to lift an offer outside the NBBO?
     
    #10     Sep 4, 2003