This is a hilarious trade :)

Discussion in 'Trading' started by terr, Feb 25, 2021.

  1. narafa

    narafa

    I did that in fact, sold a couple at $2 (They traded up to $5.7 intraday yesterday, but of course I didn't manage to catch any at those prices).

    Before Market open I was putting sell orders for those at $3.5 and $5, IB cancelled those orders before market open (With a message saying that price is too far outside NBBO!!!)

    upload_2021-2-26_10-58-57.png

    Besides, at IB, GME options opened late as well, not at 9:30 as it was supposed to.
     
    #11     Feb 26, 2021
    MoreLeverage likes this.
  2. Can a user turn off this security measure to cancel orders that are too far from NBBO?

     
    #12     Feb 26, 2021
  3. narafa

    narafa

    Honestly, I don't know. This is the first time I saw this message from IB. My orders were sent and accepted (green status) before market open by around 20 mins. IB cancelled the orders right after market open and I got this message.

    I placed tons of orders in other instruments before which were way too far from NBBO and there was no problem (The like of bidding 1000 shares @$0.5 for a stock trading at $10), didn't face this problem.
     
    #13     Feb 26, 2021
    DiceAreCast likes this.
  4. Probably not, judging by the other IB order “protection” measures. I ran into this too, but re-placed the orders and got a few fills on GME options yesterday.
     
    #14     Feb 26, 2021
    DiceAreCast likes this.