Anyone else getting bad fills with OptionsHouse ?

R

rfriend73

It has happened pretty much every time I set a stop. Today I set my stop at 1.27 for QCOM, the bid/ask went to 1.25 and 1.26 and I was filled at $1.24 ?? Is this common to all brokers ?
 
Quote from rfriend73:

It has happened pretty much every time I set a stop. Today I set my stop at 1.27 for QCOM, the bid/ask went to 1.25 and 1.26 and I was filled at $1.24 ?? Is this common to all brokers ?
More...

I do use OH.... with Limit orders, I get what I request, or it is not filled.
I cannot comment on Stops....

On the OH site... "A sell stop order is activated when the ask price hits the stop price or passes through the stop price. A buy stop order is activated when the bid prices hits the stop or passes through the stop price. Once the stop is activated, the order becomes a market order".

So it becomes a Market order... do not know if this is standard or other brokers handle it as a limit, once activated
 
I used stops before with them just a few times and felt like the fill was pretty bad on them also. But I hardly ever used stops it was mainly just limit orders.
 
Quote from webicknell:

I do use OH.... with Limit orders, I get what I request, or it is not filled.
I cannot comment on Stops....

On the OH site... "A sell stop order is activated when the ask price hits the stop price or passes through the stop price. A buy stop order is activated when the bid prices hits the stop or passes through the stop price. Once the stop is activated, the order becomes a market order".

So it becomes a Market order... do not know if this is standard or other brokers handle it as a limit, once activated
More...

so it doesnt even have to trade through? the quote just needs to go through? strange
 
Quote from webicknell:

I do use OH.... with Limit orders, I get what I request, or it is not filled.
I cannot comment on Stops....

On the OH site... "A sell stop order is activated when the ask price hits the stop price or passes through the stop price. A buy stop order is activated when the bid prices hits the stop or passes through the stop price. Once the stop is activated, the order becomes a market order".

So it becomes a Market order... do not know if this is standard or other brokers handle it as a limit, once activated
More...

That's the crux of my issue..I am not getting filled at the market, but always 1-3 cents less than..It appears that OH pockets a few pennies per contract every time..and I have tried limit orders, but often they don't get filled at all...
 
STOP LIMIT ORDER:

http://www.interactivebrokers.com/en/trading/orders/stopLimit.php

"A Stop Limit order instruct the system to submit a buy or sell limit order when the user-specified stop trigger price is hit. The order has two components: the stop price and the limit price. When a trade has occurred at or through the stop price, the order becomes executable and enters the market as a limit order, which is an order to buy or sell at a specified price or better.

A Stop Limit eliminates the price risk associated with a stop order where the execution price cannot be guaranteed, but exposes the investor to the risk that the order may never fill even if the stop price is reached. The investor could "miss the market" altogether."
 
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