Routing stocks and options...

Discussion in 'Order Execution' started by Cabin111, Feb 6, 2018.

  1. Cabin111


    Hi there. I've traded options for years. I just do covered calls (yeah, I know boring). I've done 2 puts in my life...Just don't care for them. Anyways, I get frustrated in that when I try to buy a stock or trade an option, the big boys (computer programs) will jump ahead for me in the bid/ask. If I put in a price to buy GE for say $17.05, the computers will jump ahead of me and put their price at 17.05005 and get the buy. I (we) all know this is going on. I hope that congress will change this, but it seems highly unlikely. But that is not what I'm writing about (sorry...Rabbit hole). Just wondering if we are given a choice of routing companies, is one better than another to get an execution of a trade for a stock or option? Can you tell me which routing companies are best? Can you prove your answer...Not just I heard this...But maybe even a story from a reputable publication to prove which route is best. Thanks, Brian
  2. Cabin111


    Also saw something strange at Fidelity the other day. I have accounts at Fidelity and Schwab. Yeah, really boring...But I like strong stable institutions. To give you and idea...I bank at Wells Fargo. Just me. I was buying 300 shares of a stock (ETF). The only choice I had was all or none. 175 shares were bought...Later the last 125 got bought (same day). But they could have ended up giving me an odd lot. I don't want or need odd lots (for options). But there was no other choice...Either a potential odd lot or all or nothing. Years ago, you could not potentially get an odd lot...Unless you asked for one. Now you could get one and have to buy a full lot over 2 days...With 2 days in fees. No fair. Would love to hear comments on this or the above. I am reading the other threads and will look into some of the ideas for routes. Brian