How do I buy an option with a huge spread?

ZBZB said:
In IB TWS option trader, right click on the column headers and add model. Then walk your order towards this model price. You should get filled near this price.
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Interesting, never saw that option. What does it indicate?
Some sort of "last" or "mid"?
 
cesfx said:
Interesting, never saw that option. What does it indicate?
Some sort of "last" or "mid"?
More...

It is an option pricing model. Also used in account management to value options when market is shut.
 
Buying far dated calls means never making money despite being right-seen it done many times. Have a think about what you want to do and find a strategy that fits. Buy LEAPs and sell near month calls, maybe?
 
You may need to model it to determine a reasonable value and then ascertain that value. Within IB TWS option trader, right-click on the column headers, select "Add Model," and then gradually adjust your order towards this model price to increase the likelihood of getting filled near that price.
 
spinn said:
I want to buy some way out of the money calls in anticipation of a large market move in say the next two years. One example is SPXS $30 Jan 2026. It is currently bid ask at 0.01 x3.20 on my IB TWS. I placed a bid at 0.10 but was not filled. Is there any way I can find out what it is actually trading at to place a bid that might get filled? These are lottery ticket trades and gambling so I risk very little but want to be in the game if a big move happens
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IMHO, you asked the wrong question. The right question is how big is your anticipated move and your assessment of the probability of the move?
 
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