Synthetic call combo orders on IB

Discussion in 'Order Execution' started by rayl, Nov 18, 2007.

  1. rayl


    Has anyone had experience with IB's Smart router with synthetic call combos (buy stock, buy put)?

    I was trying to use them and ran into two issues:

    1. On a fairly liquid issue (a top 10 by dollar volume on NYSE for the day), even with a relatively wide spread (like 7c) to the implied offer, the order still would not fill.

    I was unwilling to take an unlimited slippage risk (there's a checkbox for that in the order entry sceen), but I'd thik that 5c or 7c for a stock in the $30-$50 range, with penny quoted options, for a top 10 by dollar volume issue would be plenty.

    2. Also, more annoyingly, when I cancelled the order, it stayed in status Orange (vs Red/confirmed out) until the end of day.
  2. rayl


    Well, both issues appear to be fixed today. So I go from being perplexed to being estatic bec I've gotten some fills tight enough to be arbitrage situations!

    I see some of my combos were executed entirely on ISE whereas others were split between an options venue and an ECN.

    I guess there must have been a bug that's been fixed.