In an options spread on spy stock, in the quote panel, at times today the bid was much higher than the ask. What is going on here?
What I suspect is that the buyers don't want to buy only 1 contract. They might have "all or nothing" orders, with a quantity higher than 1. Thus the order for 1 contract at 0.28 is not getting filled.
IB's spread quotes in many of the active securities are often wrong (behind) in these fast markets. ie SPY, AAPL etc . they are constantly crossed but they are incorrect