IB - Weekly ES options

Anyone notice starting with Monday (May 15th) IB is no longer processing these options right after the 4pm eastern fixing price on expiration day?

They used to get pulled out of the account window or automatically get assigned with a corresponding position in ES right after the 4pm fix, now they are not processing until 1am the next morning.

 

Isn't that more of a Globex issue? IB is a Direct Market Access entity -- they don't want to hold any book.

 

I opened a chat session with them yesterday about this, they told me that it's an ongoing issue and that there is no ETA on a fix. Margin is not released until you get the expiration/assigment notice.

The problem seems to be related to the ESF.FIX symbol not updating a few seconds after the 3:00 PM CST close like it usually does.

The CME website was correctly updated after the close, so not a CME issue.

 

Thanks gazer, I called CS too fingers crossed

 

Unrelated issue but every one of my marketable orders in weeklies expiring today (Friday 5/19) is being price capped by TWS, anyone else?

It lets you join the bid/offer but you can't hit or take anything.

 

Not sure of what you're describing, but a (dangerous, annoying) TWS defaulting behavior is to take the first marketable quote available, when it writes a ticket. If (like today) you're looking to sell at the ask, and the shaky market fails to show an offer as your finger hits the hotkey, TWS throws you clear to the other side. For this reason, on my option pages (where thin markets are not uncommon), all of the TWS warnings, pauses, and click-throughs remain up: it just takes a second, and at least once a week, I find I have to manually input a proper price. That caution has saved me *big* money.....

 

You can change this default behavior by going to Configure=>Presets=>Options(or FOPs, or any other instrument)=>Primary Order, and then set order type to LMT, limit price to "Bid". This way, when you create a buy order, the automatic price that TWS will put in the order is the highest bid available at the time. In the case of a sell order, the price will be the lowest offer available at the time.

 

Nope. (Hence, the danger...)

 

It does work every single time here. In case you are buying and there are no bids, of course it will put the ask by default, it's the only price TWS has as reference.