1. That's correct, however this is not considered slippage since you got the price you wanted. 2. A limit order is at your price or better. However, an iron condor has 4 legs, which are generally filled on a single exchange (you can get it filled on different, but I'd say it's unlikely at the close of expiration friday) while the composite bid-ask quote is coming from all exchanges.
look at the third post. last sentence. thanks for the clarification guys. to sum it up for a newbie would be it be safe to say that: 1) slippage affects large block trades or partial fills. 2) stop orders that fill or sell @ market price 3) as a small trader/investor if i incur slippage losses on 1 or 2 contract trade the effect was minimal compared to staying in a bad trade? thanks guys
3. Slippage can be a significant part of trading even for a retail trader. Slippage is incured every time the fill price is different to your decision/expected price.
These people disagree. I guess it's just how you define it. http://www.greekshares.com/termin2.php SLIPPAGE The difference between estimated transaction costs and actual transaction costs. The difference is usually composed of revisions to price difference or spread and commission costs.
"SLIPPAGE The difference between estimated transaction costs and actual transaction costs. The difference is usually composed of revisions to price difference or spread and commission costs." thanks for the link.. again im sooo new to this but i dont know if i would consider commission cost a factor in slippage due to the fact that it is a constant. I know x transaction is gona cost x in fees.