But if the ticksize is 10 cents, then it's like I said.
Ie. if the ticksize is 10 cents then the Bid or Ask has to be a multiple of it. Otherwise it just sits at the brokers system... till a cross happens...
Definition (wikipedia):
In financial markets, the tick size is the smallest price increment in which the prices are quoted.
More info:
https://www.investopedia.com/terms/t/tick-size.asp
Example:
https://www.chittorgarh.com/glossary/option-tick-size/64/
"
Option Tick Size
The minimum value by which the price of an Option contract can change.
It is the minimum value by which the price of an Options contract can change. Suppose the premium for an Options contract is currently 10.00 and the tick size is 0.10 then the price of the contract will increase as 10.10, 10.20, 10.30 etc. It cannot change as 10.13, 10.18, 10.22. Similarly, when the price decreases, it will decrease as 9.90, 9.80 and 9.70.
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