As far as the OP is concerned future price of the underlying is irrelevant.
Instead of using margin provided by the broker he wants to buy DITM calls.
:)
Q: What's best way for me to lock in today's exchange rate to hedge FX risk on a trade?
A: To lock in todays exchange rate you BUY the currency. It's as simple as that.
:)
Yes ....... the bid/ask should change to 0.05/0.09 - and that change should be instant. Obviously if you want the order filled you will mostly likely will have to change the price to $0.05. Even $0.06 could go unfilled.
:)
"If you have a specific order that has been price capped and would like to request that the cap be raised on a buy order or the floor be lowered on a sell order, please contact Customer Service."
:)
"Justification" for this thread will come around March 2017.
ET threads will spring up comparing 2016/2017 with 1999/2000 and wishing they had seen it coming while I predicted it months in advance.
:)
"Ultimately, price caps should only impact market orders"
It appears that IB wants to project you from outrageous fills on Market Orders that the opposing trader tries to get filled well beyond the bid/ask spread.
:)