nonsense or am i a newb?

Discussion in 'Retail Brokers' started by lpope, Oct 22, 2007.

  1. lpope


    Can anyone help me out by explaining to me what the CSR means. It sounds like nonsense to me, but possibly I just don't understand.

    ChatSys: This chat is associated with ticket #479414. Please record this number for use in future inquiries. You are currently in room 'Trade Problems'.
    Ernest: Hello, this is Ernest. How can I help you?
    me: i have a sell order on tma jan09 20 at .60 and the bid ask being shown is .20x.85
    Ernest: One sec
    Ernest: the issue is that there is no Bid for this option
    me: no bid shouldn't affect the ask!
    Ernest: ? if there is no bid you cant sell for one and this order is being routed to the ISE where they have their own MKTS
    Ernest: Is there anything else that I can assist you with today?
    ChatSys: No activity from customer side in the last 30 seconds. Session may be terminated by CSR, if customer does not respond
    Ernest: Please feel free to return to chat if there are any additional questions.
    ChatSys: This chat session is being terminated by the CSR
  2. lpope


    I know the order won't execute. However, I would expect it to be the ask price.
  3. Customer service rep
  4. See my sig.

    Please, I'm not a daytrader, I'm an "Intraday Liquidity Provider"

  5. Gustaf


    Why are you hanging here when you should be trading options?

  6. lpope


    Thank you for being so helpful TorontoTrader. Obviously I need to go trade at Etrade...

    Maybe you can prove your knowledge and be a bit more helpful by explaining to me how an active sell order [at .60] (green in tws) can be between the bid [at .20] and the ask [at .80]. I would think the ask should be .60, after all I'm making a market at that price.
  7. I don't understand either. The ask should update to 0.60 (Which is your order) in this case.

    Several questions:
    1. Is your order accepted in TWS? If so, is it submitted to the exchange already (the green status)?
    2. Do you think the ask gets stuck somehow so it won't reflect the update? Try to restart TWS next time to verify that.
    3. What market and instrument are you trading?

    Sometimes CS may not know what they are saying too. Their answers may not be correct.