Let's say I want to buy a ES strangle, the bid/ask is $5.20/$5.60 I would bid $5.40, but IB TWS only allows prices like 5.0, 5.25, 5.50, 5.75... I'm not sure if it's IB's problem, or other trading software can handle it better. Any solutions to this problem?
What happens if you go $4.95? What you are looking at is history. 8,000 years ago, it was way too much work to put fine dilineations the various stock, future, commodity, or index prices -- fractions of 1/4 were just fine. Things went to eighths and sixteenths and more -- and of course, eventually to pennies (in most places). But now it's 2019, and we expect pennies (or at least nickels!) everywhere! Well, in another 10 years, it might be. Eventually, we won't have a PM/freeze//AM/settle, either.