Anyone else get unusual MOC fills with IB?

T

traderich

I was wondering if anyone else uses IB and if they use MOC orders.

I have gotten some bad fills and don't understand why if the order calls for MOC.

Take today for instance:

CVO- sold @ 24.68...Last price listed was 24.68...PERFECT!

PRM- sold @ 2.91..Last price listed was 2.91........PERFECT!

GME-sold @ 39.21...Last price listed was 39.25...off 4 cents..ok.

PNK-sold @ 30.83...Last price listed was 30.83....PERFECT!

ACH- sold @ 42.51..Last price listed was 43.05! WTF happened?

CKP-sold @ 26.48...Last price listed was 26.48.....PERFECTO!



Why did I get porked with ACH ? If you say it is due to the bid/ask price, or that its just a market makers doing, fine. But what does not make sense is why I can get 4 or 5 that are absolutely perfect every day and sometimes get 1 that just smells so bad.

Can I tell IB that I want the closing price and are they obligated to give the closing price to me with a MOC order?

Just wondering if anyone else has experienced the same.

peace.
 
Quote from traderich:

I was wondering if anyone else uses IB and if they use MOC orders.

I have gotten some bad fills and don't understand why if the order calls for MOC.

Take today for instance:

CVO- sold @ 24.68...Last price listed was 24.68...PERFECT!

PRM- sold @ 2.91..Last price listed was 2.91........PERFECT!

GME-sold @ 39.21...Last price listed was 39.25...off 4 cents..ok.

PNK-sold @ 30.83...Last price listed was 30.83....PERFECT!

ACH- sold @ 42.51..Last price listed was 43.05! WTF happened?

CKP-sold @ 26.48...Last price listed was 26.48.....PERFECTO!



Why did I get porked with ACH ? If you say it is due to the bid/ask price, or that its just a market makers doing, fine. But what does not make sense is why I can get 4 or 5 that are absolutely perfect every day and sometimes get 1 that just smells so bad.

Can I tell IB that I want the closing price and are they obligated to give the closing price to me with a MOC order?

Just wondering if anyone else has experienced the same.

peace.
More...

Damn funny you should post this today. I have always been extremely happy with my IB fills. Today I had a short YM position and used a market order to close the position during the last 15 seconds and I got filled 8 points higher then the price when I hit the market order?!?! There was about a 5 second delay and my fill was at 13770!!! About 5 minutes later YM was trading 20 points lower!!:eek: :eek:
 
Use a limit order? I think everyone has gotten killed with the slippage with a market order before especially in a volatile market.

Quote from flipflopper:

Damn funny you should post this today. I have always been extremely happy with my IB fills. Today I had a short YM position and used a market order to close the position during the last 15 seconds and I got filled 8 points higher then the price when I hit the market order?!?! There was about a 5 second delay and my fill was at 13770!!! About 5 minutes later YM was trading 20 points lower!!:eek: :eek:
More...
 
Quote from traderich:

I was wondering if anyone else uses IB and if they use MOC orders.

I have gotten some bad fills and don't understand why if the order calls for MOC.

Take today for instance:

CVO- sold @ 24.68...Last price listed was 24.68...PERFECT!

PRM- sold @ 2.91..Last price listed was 2.91........PERFECT!

GME-sold @ 39.21...Last price listed was 39.25...off 4 cents..ok.

PNK-sold @ 30.83...Last price listed was 30.83....PERFECT!

ACH- sold @ 42.51..Last price listed was 43.05! WTF happened?

CKP-sold @ 26.48...Last price listed was 26.48.....PERFECTO!



Why did I get porked with ACH ? If you say it is due to the bid/ask price, or that its just a market makers doing, fine. But what does not make sense is why I can get 4 or 5 that are absolutely perfect every day and sometimes get 1 that just smells so bad.

Can I tell IB that I want the closing price and are they obligated to give the closing price to me with a MOC order?

Just wondering if anyone else has experienced the same.

peace.
More...

The "last price" is not always the same as the "official closing price". If there was an after hours trade for example, the "last price" may reflect that after-hours trade price and not the "official closing price". When you use MOC, you will get the official closing price. You can find out the official closing price by going here and looking at the field labelled "NYSE Only Close":

http://www.nyse.com/about/listed/lcddata.html?ticker=ACH
http://www.nyse.com/about/listed/lcddata.html?ticker=GME

If your MOC fill does not match the number there, you should definitely call IB and tell them to explain what happened, but for both GME and ACH today it looks like you got the correct fills.
 
Along these lines, has anyone had the issue of stops not being hit?

I am sure the market traded there, but it was a fast market today (Wednesday the 20th).

Even so, I was surprised ....

I am happy to still be long, but it is worrisome from a trading discipline standpoint.
 
Quote from asragov:

Along these lines, has anyone had the issue of stops not being hit?

I am sure the market traded there, but it was a fast market today (Wednesday the 20th).

Even so, I was surprised ....

I am happy to still be long, but it is worrisome from a trading discipline standpoint.
More...

Yes, this happened to me during high volatility on Feb 27...nasdaq quotes were crossed and stops did not trigger because nasdaq quotes were not valid was the explanation IB gave me for stops not triggering back then, look for my posts around that date for more info..yes i agree it is worrisome
 
Sorry TraderRich, just saw your post. Your gaps were not due to IB. The 15th was SP rebalancing. Additionally, Russell updates were released that day.

Quote from traderich:

I was wondering if anyone else uses IB and if they use MOC orders.

I have gotten some bad fills and don't understand why if the order calls for MOC.

Take today for instance:

CVO- sold @ 24.68...Last price listed was 24.68...PERFECT!

PRM- sold @ 2.91..Last price listed was 2.91........PERFECT!

GME-sold @ 39.21...Last price listed was 39.25...off 4 cents..ok.

PNK-sold @ 30.83...Last price listed was 30.83....PERFECT!

ACH- sold @ 42.51..Last price listed was 43.05! WTF happened?

CKP-sold @ 26.48...Last price listed was 26.48.....PERFECTO!



Why did I get porked with ACH ? If you say it is due to the bid/ask price, or that its just a market makers doing, fine. But what does not make sense is why I can get 4 or 5 that are absolutely perfect every day and sometimes get 1 that just smells so bad.

Can I tell IB that I want the closing price and are they obligated to give the closing price to me with a MOC order?

Just wondering if anyone else has experienced the same.

peace.
More...
 
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