Does it make it harder to buy and sell a vertical spread that is not listed as a pair? Example: Stock XYZ shows 56/57 and 57/58 strikes on the option chain. If I actually buy a 56/58 vertical spread does that make it harder to buy and more importantly, sell because I did not pick a standard pair listed? Wondering because I have had a couple situations yesterday and today where the SINGLE call options had huge interest and I created a vertical spread to include the strike prices that had the largest interest but the orders did not get filled despite being at the asking price or higher. Thanks all...
What I meant you can see in this pic. It shows 49/49.5 and 49.5/50. I know I can choose what I want but if instead of choosing 49/49.5 or 49.5/50, I do a 49/50, would that make it harder to sell since it’s not a standard option listed?
I guess it probably doesn’t really matter since they are technically individual buy and sell legs, I am just buying as a vertical spread.
The screenshot you’re showing is invalid, there are no such pairs. Someone created some silly GUI that limits and confuses you to thinking that those are some standard pairs or spreads. That is a really bad interface because there are millions of other possible option combinations that it doesn’t show. I’ve never seen anything like it, while everyone can choose any spreads and option combinations they want.
That’s what comes up when you select “Vertical” for type of option trade. I use TOS also.. I wasn’t able to open the short leg due to balance requirements. When doing individual positions. I was able to do the trade as a vertical tho. You could try open long leg first, then the short.
Yeah it is TOS. I have no problem doing them, just curious about making sure I am choosing the best spreads. Don’t want to get something I can sell.
No since there is no "standard" option pairs. It's what you make it out as according to what you want. You might get a template of a pair to start out with but it's in no way set in stone. You can customize it however you want. As long as a strike is available for trading, you can make it as part of a combo which doesn't have to be restricted to just a spread, it can have any combinations and any number of combinations of options.
Your error is you selected improper setting in TOS. Better to select "Spread:" as single, then construct the spread you actually want, else select the proper vertical strike width you want, rather than the most narrow width selection you did. The responses by other responders are correct. May be a good thing to get familiar with TOS, rather than "assume" your request was properly formed. TOS is actually fairly useable once you look a bit deeper.