Why didn't my options order get filled ?

Discussion in 'Options' started by JohnBartle, May 12, 2022.

  1. I'm kinda sorta newish to trading. Actually I've been making imaginary options trades for a LONG time but almost never have made any real options trades. I typically make very accurate and profitable imaginary trades tbh. For whatever reason today I finally got the courage to finally put in an order.

    My order was:


    Entered:11:10:57 05/12/22
    Buy to Open 500 SPY MAY 13 2022 380.0 Put Limit 0.30

    The offer was equal to my bid but nothing got filled at all. My order was NOT all-or-nothing btw.

    I don't understand option's volume well enough maybe? I'm using TD Ameritrade and the order book showed an offer amount of over 1,000 in the que. It was probably closer to 1,500 contracts offered.


    Why didn't my bid get filled ? I would have made $16,000 man:(
     
  2. Robert Morse

    Robert Morse Sponsor

    Let us know what TD says when you ask them.
     
    murray t turtle likes this.

  3. I was thinking of asking them but I don't expect a sophisticated answer about how volume and quoted order book quantities work. I didn't think they would help much.

    But, I'll ask right now I guess...
     
    stochastix likes this.
  4. Robert Morse

    Robert Morse Sponsor

    If the ask was $0.30, and you entered a buy order with a price of $0.30, it is a fair question to ask as to why you did not buy any.

     
  5. A quick check indicates the lowest ASK found using 1-min bars of .31. But some trade(s) did occur at .30. See TOS Chart below:
     
    Last edited: May 12, 2022
    murray t turtle likes this.
  6. upload_2022-5-12_10-47-9.png
     
    CactusWren and JohnBartle like this.
  7. Looks like 0.30 from here (but the ask was probably a penny higher.) Also, note that the bar is a doji - it only ticked down to 0.30 and went right back up.

    upload_2022-5-12_13-45-47.png

    I wouldn't be surprised if only a few contracts traded at that price. You should call TD and find out, but I'd guess someone was ahead of you and got those.

    This is why I watch my entries closely, and won't hesitate to change them as long as I think the cost is within the range I want.
     
    murray t turtle likes this.
  8. TDA support said at the time I put my order in the quote was .30 x .31. He said the ask did not drop to .30.

    Well, my phobia got the better of me for the 3,000+ time

    I knew it was going to be a MASSIVE down day too.
     
    murray t turtle likes this.
  9. JackMorgan

    JackMorgan

    thats quite a trade for a first options trade

    and it didnt dawn on you to bid a penny higher ?
    ok
     
    #10     May 12, 2022
    murray t turtle and Overnight like this.