IB - penny option pricing *now*

Discussion in 'Interactive Brokers' started by gaj, Oct 24, 2006.

  1. teun

    teun

    At which exchange? At BOX it can also be due to the price improvement mechanism...
     
    #31     Oct 26, 2006
  2. IBsoft

    IBsoft Interactive Brokers

    Not true. You get charged $0.75 per contract if you used a smart order. Why do you think we charge you $1.50? Is that just a guess, or you see it on the statement?

    EDIT: please send your account # to the help@interactivebrokers.com and include mg101 in the subject line; we will check your charges immediately; thanks
     
    #32     Oct 26, 2006
  3. When both trades went through that was the charge shown on both "Trades" and on "Account" where it shows the portfolio and p/l for the day.

    Sent follow-up email with account number.
     
    #33     Oct 26, 2006
  4. yeah i know but i think it was ise, besides u can already see often quotes in pennies.
     
    #34     Oct 26, 2006
  5. IBsoft

    IBsoft Interactive Brokers


    Today in your account we see two trades:
    - bought 37 contracts for 0.37 paid $18.50 in commission
    - bought 24 contracts for 0.06 paid $12.00 in commission

    The charges seem correct based on the sliding scale for smart routed options. I don't see any $1.50.

    I suggest you wait a few hours for the statement and then let us know what it says.
     
    #35     Oct 26, 2006
  6. The info you show above is incorrect. We just sent you an email with the correct information.

    P.s. I am next available (on my end) to follow-up on Sunday or Monday.
     
    #36     Oct 27, 2006
  7. IBsoft

    IBsoft Interactive Brokers



    Thank you for your email. You are right; I mistyped in the previous post. My post should have read:
    - bought 37 contracts for 0.07 paid 18.50 in commission
    - bought 24 contracts for 0.06 paid 12.00 in commission

    Now to your email:
    - the commission is 50c instead of the 75c because the premium is below 10c in both cases (please refer to the website for more details)
    - the average price on the statement is the average price of all the buy/sell trades done in the symbol on the day
    - we checked the first trade and found that due to an error we indeed filled you at 0.07 cents when we should have at 0.06; we have corrected that - you should be able to see the adjustment on Friday's statement; we also reviewed all the executions from this week in order to find whether any other fills were effected; we found one more and adjusted it accordingly; we also corrected the responsible software error
    - as to the other fill at 0.06, we indeed filled you at 0.06 and not at 0.05 as you asserted in the email

    I hope it now all makes sense now. Thank you for reporting the problem.
     
    #37     Oct 28, 2006
  8. arl

    arl

    I still want to only place orders as before, in nickels or dimes until the exchanges roll it out. However, even when I remove penny options using the feature selector, the pull down pricing for options is still in pennies, so it takes me too long to get to my price. Is there any way to get rid of that?
     
    #38     Nov 2, 2006
  9. cvds16

    cvds16

    Oh my GOD !
     
    #39     Nov 2, 2006
  10. arl

    arl

    yes? I don't know if you are an active trader, but for those of us who do trade options actively and in size, a few seconds can be a lifetime.
     
    #40     Nov 2, 2006