Forum moderation implies some experience with the topic at hand, correct? You're serious with this thread?
On my yahoo quotes during market orders, I get real time quotes right under the symbol, after hours, it now says after hour quotes. However, for me even better it tells me if the quote on IB can be trusted or not. If the limit price on IB is close to the price on yahoo, and I want to take the trade at this limit, I will not manually change the price of the limit order. But if yahoo shows a big discrepancy, then I will change the limit price in IB so I don't get ripped off.
Even with the 15 minute delay Yahoo quotes are good enough to base your trade on - right up till you are ready to submit. Just use the broker for the final quote.
I am not a mod of the options forum, nor do I frequently trade options, so no I don't claim to be an expert in trading options.
So GE drops $0.20 in three minutes and yahoo's 15m delayed quotes are "good enough" to make a market in the options? Penny bid at three hundred!
What you saw was pretty standard for illiquid markets. The bid/ask is wide because the MM has to buy/sell at those levels. If you narrow the market by putting an offer in the middle, you may get lifted, your level clears, and the market returns to the original bid/offer. Think about it this way. You had made a choice: you can either sell immediately at .88 OR show an offer at 1 but facing execution uncertaintly (maybe the .88 disappears and the market becomes .6/1 when you 1 gets posted). You made choice #2. It worked out for you, but not always. Anyway, I can't seriously believe this question is for real. Think I'm feeding the troll here.
The implication that the $0.88 quote was NBBO-offer was ridiculous. Show a little restraint before defaming a firm simply because you haven't a clue what you're doing.
No, it was a real question on why it happens since I usually trade futures and even on market orders, there is very little slippage, and bid / ask is normally not larger than 1 tick. Was the title of the thread a little outrageous? Yes, I don't really believe they are ripping me off, but I take creative license to generate responses to my thread.
I must be missing something... did you notice the TWS NBBO (bid-ask on the option) on the order line?
Yes ..... Keep in mind that the option quotes are delayed 15 minutes, but they have real-time stock quotes. It's easy to figure out were the option prices are heading.