IB order error?

Discussion in 'Retail Brokers' started by 1011101, Oct 25, 2006.

  1. 1011101

    1011101

    I put a limit order to sell an option at 4.9. I received a fill at 4.3. But my 4.9 order is still active. What the f#$k is going on?

    I have seen this many times before where I got filled at a worse price than my limit and I always assumed i had entered the wrong price, but now I know i put in 4.9 this time and the order is still there! how the hell did i get filled at 4.3!

    So how many times has IB screwed up my order in the past and cost me money? I can't even imagine. Should I call my lawyer?

    Somebody tell me I am not losing my mind!
     
  2. BCE

    BCE

    I'm sure you're just airing out you frustration, but why post it here? You should call IB and talk to them about it. Sorry about your loss.
     
  3. No way.

    I've put in literally hundreds of option limit orders at IB. Never even happened once.

    You sure they weren't Stop orders, or maybe you clicked BUY instead if SELL?

    There is one very easy way to find out. Just look at the Audit Trail for gosh sakes. IB doesn't need to make money by nickel and diming retail ppl.

    If this was a system problem, 57,879 traders would have raised hell - not just you.

    Tired of this IB bashing. IB is a great broker. There is a reason they say The Professional's Broker... :mad:
     
  4. dcvtss

    dcvtss

    Maybe you should be more worried about posting your account number on a public internet forum...
     
  5. 1011101

    1011101

    I am open to the idea that is was human error, i always assumed so in
    the past. I would like to see what I am doing wrong though so I can not
    do it anymore.

    These are the relevent lines from the condensed audit trail. Can anyone
    make sense of this?


    Acknowledged 20061025-16:01:15 1763721809.0 00022886.0001d36f.453ee57e.0001 Sell 1 MDC - 200801 - - C Limit 4.9 GTC ExecID= 0; ExecType= New; ExecTransType= Status; OrdStatus= New; ExDestination= CBOE; SecurityExchange= CBOE; CumQty= 0; LeavesQty= 1; AvgPx= 0; SecurityType= OPT; 201 = 1; ClearingFirm= 534; ClearingAccount= Uxxxxxxx; Account= Uxxxxxxx; ConQPath= MDC/OPT/20080118/60/C/USD/100/38751753/43543/AMEX/110/LYL/LYLAL; TransactTime= 20061025-16:01:15; Rule80A= AgenySingleOrder; ContractID= 38751753; Currency= USD; Exchange= BEST; InstrumentType= OPT; OpenClose= Open; OptionAcct= c; CustomerOrFirm= Customer; WorkingIndicator: N; 6205 = 1; 541 = 20080118; 6115 = 0;


    Acknowledged 20061025-16:01:23 1763721809.0 00022886.0001d36f.453ee57e.0001 Sell 1 MDC - 200801 - - C Limit 4.9 GTC ExecID= 0; ExecType= New; ExecTransType= Status; OrdStatus= New; ExDestination= CBOE; SecurityExchange= CBOE; CumQty= 0; LeavesQty= 1; AvgPx= 0; SecurityType= OPT; 201 = 1; ClearingFirm= 534; ClearingAccount= Uxxxxxxx; Account= Uxxxxxxx; ConQPath= MDC/OPT/20080118/60/C/USD/100/38751753/43543/AMEX/110/LYL/LYLAL; TransactTime= 20061025-16:01:23; Rule80A= AgenySingleOrder; ContractID= 38751753; Currency= USD; Exchange= BEST; InstrumentType= OPT; OpenClose= Open; OptionAcct= c; CustomerOrFirm= Customer; WorkingIndicator: N; 6205 = 1; 541 = 20080118; 6115 = 0;


    Acknowledged 20061025-22:02:26 1763721809.0 00022886.0001d36f.453ee57e.0001 Sell 1 MDC - 200801 - - C Limit 4.9 GTC ExecID= 0; ExecType= New; ExecTransType= Status; OrdStatus= New; ExDestination= CBOE; SecurityExchange= CBOE; CumQty= 0; LeavesQty= 1; AvgPx= 0; SecurityType= OPT; 201 = 1; ClearingFirm= 534; ClearingAccount= Uxxxxxxx; Account= Uxxxxxxx; ConQPath= MDC/OPT/20080118/60/C/USD/100/38751753/43543/AMEX/110/LYL/LYLAL; TransactTime= 20061025-22:02:26; Rule80A= AgenySingleOrder; ContractID= 38751753; Currency= USD; Exchange= BEST; InstrumentType= OPT; OpenClose= Open; OptionAcct= c; CustomerOrFirm= Customer; WorkingIndicator: N; 6205 = 1; 541 = 20080118; 6115 = 0;


    Acknowledged 20061025-22:02:33 1763721809.0 00022886.0001d36f.453ee57e.0001 Sell 1 MDC - 200801 - - C Limit 4.9 GTC ExecID= 0; ExecType= New; ExecTransType= Status; OrdStatus= New; ExDestination= CBOE; SecurityExchange= CBOE; CumQty= 0; LeavesQty= 1; AvgPx= 0; SecurityType= OPT; 201 = 1; ClearingFirm= 534; ClearingAccount= Uxxxxxxx; Account= Uxxxxxxx; ConQPath= MDC/OPT/20080118/60/C/USD/100/38751753/43543/AMEX/110/LYL/LYLAL; TransactTime= 20061025-22:02:33; Rule80A= AgenySingleOrder; ContractID= 38751753; Currency= USD; Exchange= BEST; InstrumentType= OPT; OpenClose= Open; OptionAcct= c; CustomerOrFirm= Customer; WorkingIndicator: N; 6205 = 1; 541 = 20080118; 6115 = 0;
     
  6. nassau

    nassau

    I have had similar issues in the past, sometimes though if the stock has been volitile the price will adjust?..
    an example I wrote an option and the price i received was different from the executed price and the price shown in the account window differed from the trading window.
    I verified my execution true price via executions and in some cases a few days later it rectified itself..

    it could also be that you tried earlier to execution and you never got filled and the order sat in pending ...this also has happened to me and the pending order not be shown in pending...?
    that could explain the order being filled with an existing working order pending and still being shown as working and not filled..
    unfortunately these are the nature of our beast, there will always be glitches etc. with us and or our broker(s).

    the nicest part is you are aware of the issue and the cost is min. like getting a flat tire..a pain in the ass but no going to kill you

    good luck with your trades
     
  7. My sincere apology for my rather snippy earlier post. I can see now that you just want to find out what's going on. Nothing wrong with that.

    I'm cranky because I've been with IB for years and I owe a lot of my profitability to IB and their low cost, API, and markets. And every time I open ET lately I see...

    Anyway, I'm sure someone here can help. I'll look at my audit trail and executions and see if anything comes up.

    Good luck in your efforts. :cool:
     
  8. Let's assume "C Limit 4.9" means what is looks like.

    If that is indeed a limit order for 4.90 or better, I would not accept a fill below that.

    Anyone?
     
  9. Yes, if you EVER get a fill below your limit on a SELL Limit order, yell like a banshee at your broker.

    However, I don't think that is what happened. As another person mentioned, there may be some confusion in the Cancel or Change Order process.

    To the OP, there has to be a bunch more stuff in the Audit. For example, here is a few (stocks only) from one of my autosystems today (condensed audit). There is a clear trail of PlaceOrder, Acknowledge, Filled, CancelOrder, Canceled

    Code:
    PlaceOrder	20061025-13:33:11	1504747688	-	Buy	200	ALTR	Limit	17.56	DAY
    PlaceOrder	20061025-13:33:11	1504747689	-	Buy	200	AMAT	Limit	16.74	DAY
    PlaceOrder	20061025-13:33:12	1504747690	-	Buy	150	LBTYA	Limit	25.33	DAY
    Acknowledged	20061025-13:33:15	1504747688	0000e939.000106c9.453ee6d2.0001	Buy	200	ALTR	Limit	17.56	-
    Acknowledged	20061025-13:33:15	1504747689	0000e939.000106c9.453ee6d4.0001	Buy	200	AMAT	Limit	16.74	-
    Acknowledged	20061025-13:33:15	1504747690	0000e939.000106c9.453ee6d5.0001	Buy	150	LBTYA	Limit	25.33	-
    PlaceOrder	20061025-14:01:24	1504747691	-	Buy	300	GIGM	Limit	9.47	DAY
    Acknowledged	20061025-14:01:26	1504747691	0000e939.000106c9.453ee6f3.0001	Buy	300	GIGM	Limit	9.47	-
    Filled	20061025-14:03:33	1504747691	0000e939.000106c9.453ee6f3.0001	Buy	300	GIGM	Limit	9.47	-
    Filled	20061025-14:19:28	1504747686	0000e939.000106c9.453ee6cc.0001	Sell	50	XMSR	Limit	10.5	-
    Filled	20061025-14:20:26	1504747685	0000e939.000106c9.453ee6cb.0001	Sell	150	XMSR	Limit	10.52	-
    PlaceOrder	20061025-14:59:39	1504747692	-	Buy	50	AMLN	Limit	42.8	DAY
    Acknowledged	20061025-14:59:41	1504747692	0000e939.000106c9.453ee707.0001	Buy	50	AMLN	Limit	42.8	-
    PlaceOrder	20061025-16:29:26	1504747693	-	Buy	50	ICUI	Limit	42.7	DAY
    Acknowledged	20061025-16:29:28	1504747693	0000e939.000106c9.453ee71c.0001	Buy	50	ICUI	Limit	42.7	-
    PlaceOrder	20061025-17:17:54	1504747694	-	Buy	200	CELL	Limit	12.19	DAY
    Acknowledged	20061025-17:17:55	1504747694	0000e939.000106c9.453ee724.0001	Buy	200	CELL	Limit	12.19	-
    PlaceOrder	20061025-17:59:35	1504747695							
    
    
     
  10. Here are some Cancels today:

    Code:
    CancelOrder	20061025-20:00:05	1504747692	-	Buy	50	-	-	-
    CancelOrder	20061025-20:00:05	1504747694	-	Buy	200	-	-	-
    CancelOrder	20061025-20:00:05	1504747693	-	Buy	50	-	-	-
    CancelOrder	20061025-20:00:05	1504747697	-	Buy	100	-	-	-
    CancelOrder	20061025-20:00:05	1504747699	-	Buy	100	-	-	-
    CancelOrder	20061025-20:00:05	1504747696	-	Buy	100	-	-	-
    CancelOrder	20061025-20:00:05	1504747688	-	Buy	200	-	-	-
    CancelOrder	20061025-20:00:05	1504747689	-	Buy	200	-	-	-
    CancelOrder	20061025-20:00:05	1504747698	-	Buy	100	-	-	-
    Cancelled	20061025-20:00:07	1504747697	0000e939.000106c9.453ee759.0002	Buy	100	INTL	Limit	19.88
    Cancelled	20061025-20:00:10	1504747694	0000e939.000106c9.453ee724.0002	Buy	200	CELL	Limit	12.19
    Cancelled	20061025-20:00:11	1504747696	0000e939.000106c9.453ee751.0002	Buy	100	SGMS	Limit	27.55
    Cancelled	20061025-20:00:12	1504747698	0000e939.000106c9.453ee761.0002	Buy	100	NTAP	Limit	35.93
    Cancelled	20061025-20:00:14	1504747689	0000e939.000106c9.453ee6d4.0002	Buy	200	AMAT	Limit	16.74
    Cancelled	20061025-20:00:17	1504747688	0000e939.000106c9.453ee6d2.0002	Buy	200	ALTR	Limit	17.56
    Cancelled	20061025-20:00:17	1504747692	0000e939.000106c9.453ee707.0002	Buy	50	AMLN	Limit	42.8
    Cancelled	20061025-20:00:19	1504747693	0000e939.000106c9.453ee71c.0002	Buy	50	ICUI	Limit	42.7
    Cancelled	20061025-20:00:23	1504747699	0000e939.000106c9.453ee766.0002	Buy	100	LBTYA	Limit	24.61
    								
    
    
    
     
    #10     Oct 25, 2006