Penny options with IB: Results?

Discussion in 'Interactive Brokers' started by Option Trader, Nov 19, 2006.

  1. tef8

    tef8

    Nope, not operator error.
    It's as I stated.
    And IB is not helpful. I am trying to talk to a trade desk manager but the rep does not want to let me so this getting interesting.
    I don't respond often because I am busy and do not "live" on these message boards as some do.
    Probably won't respond again as I have already stated my case.
    I understand people will flame, I'm still not fond of IB at this time and am considering changing brokers.
    Minor incident, incredibly poor customer service. Not acceptable.
     
    #41     Nov 21, 2006
  2. IBsoft

    IBsoft Interactive Brokers

    Please email help@interactivebrokers.com and include mg101 in the subject line. When I receive it, I'll have some one promptly check what happened. Your email should contain the following information:

    - your account number
    - the instrument traded
    - trade date and time

    If possible, attach the TWS audit-trail to your email as well.

    Thank you.
     
    #42     Nov 21, 2006
  3. tef8

    tef8

    I have sent the email.
    Thank you & I hope this can be resolved.
     
    #43     Nov 21, 2006
  4. IBsoft

    IBsoft Interactive Brokers

    Thank you for your email w/ the detailed information. Here are the facts as I know them:

    - our audit-trail shows that you submitted the order w/ the price equal to 2.40 and not 2.63 as you indicated
    - the option in question is not listed on ISE or BOX and therefore it is not possible to trade it in pennies
    - the TWS should not let one type in a penny price for an option not listed on ISE or BOX; we have tried it and received an error: "The price 2.63 does not conform to the minimum price variation of 0.05 for this contract"
    - when you spoke to our CS, they have asked you to try to place another order priced at 2.63 from the TWS; you reported to the CS that when you tried, you received the same error

    From all this I can only conclude that it was a user error.
     
    #44     Nov 22, 2006
  5. You got 0wned!
     
    #45     Nov 22, 2006
  6. tef8

    tef8

    Yes, after hours after a fresh reload of TWS (for some odd reason I don't trust it) it acted as you stated.
    During my trade earlier it did exactly what I said.
    TWS is buggy. I should not have to pay for that.
     
    #46     Nov 22, 2006