IB TWS Spread Trader can't get fill for SPY EFP JUN 2010

B

bl33p

Trying to buy SPY EFP JUN 2010 (x100) but can't get a fill? :confused:

My bid is at -0.4900 now, the ask goes as low as -0.5200, but nothing happens. Most of the time the ask is at my bid or lower. Tried with JUL efp too, same thing.

For some reason can't tick the 'Continuous update' button on the order row, don't know if this has something to do with this? I have never used Spread Trader before and feeling like fish out of water.

There's only 2 days time to buy this anymore :(
 
Quote from bl33p:

Trying to buy SPY EFP JUN 2010 (x100) but can't get a fill? :confused:

There's only 2 days time to buy this anymore :(
More...

Any color on why you trade this vehicle in the first place? Thanks.
 
There is an institutional market place for the EFP transactions that is available for IB TWS users.

If you are properly permissioned at IB try entering the order through the combo order menu. When prompted for type choose the EFP and direct route to OCX. (Might be ONE).

The Bid will show up on the institutional Block and EFP Trading System (BETS) and it will at least be seen by the trading desks.

Best
 
Seems that in right click -> modify -> order ticket -> misc tab, the box Non-Guaranteed *must* be checked, or else the order will not execute (IB not taking the risk for all legs not executing).

That done, fill was super at a better price than my bid :)
 
Quote from Rodney King:

Any color on why you trade this vehicle in the first place? Thanks.
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Less tax for EFP profit than SPY dividend, where I live.

Of course I'm assuming dividend risk, if SPY would pay out monster dividend I would be left out, but statistically the risk is worth taking.
 
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