GLOBEX option spreads with IB

Quote from atrocious:

Hi Tradator - it is IB limiting strikes due to what I'm guessing is an archaic back end. I know for a fact you can create that 60/70/80 fly on Globex.

Go to CME's site and search "user defined spreads" under Globex functionality - starting in 2009, they switched from defining allowable spreads with limited strikes to full user defined capability.

If you have a Globex terminal (or access as IB does), you can basically create any spread imaginable with up to 40 legs and any permutation or options and futures. The spread order is held by Globex with zero leg risk.
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OK thanks a lot. I wanted to use CME's free option order entry application( don't recall the name ) but my other broker don't support it.
 
Tradator - I think you're on to something about IB not handling odd strikes well, for the first time today I was able to get my quote to display in an ES vertical spread with strikes at 50's and 100's. Throw in a 60 or 80 strike and you won't display although the order is apparently sent to GLOBEX.

Apparently the same is true in straddles, some display your quote, others don't.

Now I suspect this may just be a data issue in some odd strikes where IB properly routes your order to GLOBEX (it gets a green order tag) but just doesn't quote it for some strange reason.

Can someone from IB please chime in on how your back end handles these orders? I'm specifically referring to GLOBEX directed future option combos.
 
Quote from TraDaToR:


I want to appear in the book to be sure that if I provide liquidity and I'm in front of everybody, I will get the first market order coming. Butterflies must be FIFO based just like ES.
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Ok understood...
 
2 things.

Placing marketable limit order for vertical
Today near the close I wanted to sell the (+1195/-1205) call vertical in ESM10. The quotes showed around 3.60 / 3.70 or so, with exactly size 40 in both bid & ask. This was NOT implied quotes or size from the legs. I put in a sell @ 3.60, and it filled. I could see the bid size went down by the size of my trade

Placing my own offer
After a few minutes, I placed another order to sell a few more at 3.80. By this time, the spread quotes disappeared, and the bid/ask spread widened considerably and was around .65 or so. My order did show up as a spread order in TWS.

I did not get fill (this was around 1513 CST), and I canceled the order (and tried to leg in, with a few contracts short but was too close to the market close and my buy order was rejected. So I am net short calls :) oh well - I will live)
 
Greetings to all. I know this is an old thread, but I've just opened an account with IB and am looking to trade option combos and have a few questions on how they are priced and executed. If anyone would be kind enough to share their knowledge, or point me to a good source, it would be greatly appreciated. Thanks and profitable trading.
 
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