Hey guys,
So I was trying to put a credit spread on today on IB.
I wanted to place a credit spread on VIX
Long July VIX 14.00 PUT @$0.6
Short july VIX 15.00 PUT @$1.1
When I select "Credit" as I assume this is what it is, it swaps buy/sell actions on the long and short positions around. For me to put on the above spread, it requires me to select "Debit". I guess its the terminology that throws me off.
IT also says the following:
"Note on pricing: If you buy a spread and you owe cash (debit spread), enter a positive limit price. If you buy a spread and you receive cash (a credit spread), you must enter a negative limit price. Conversely, if you sell a spread and receive cash, enter a positive limit price. If you sell a spread and owe cash, you must enter a negative limit price."
It asks to enter a net price and quantity.
I find their platform odd. So maybe someone can help me. I would like to receive a credit of $50.
Thanks in advance!
So I was trying to put a credit spread on today on IB.
I wanted to place a credit spread on VIX
Long July VIX 14.00 PUT @$0.6
Short july VIX 15.00 PUT @$1.1
When I select "Credit" as I assume this is what it is, it swaps buy/sell actions on the long and short positions around. For me to put on the above spread, it requires me to select "Debit". I guess its the terminology that throws me off.
IT also says the following:
"Note on pricing: If you buy a spread and you owe cash (debit spread), enter a positive limit price. If you buy a spread and you receive cash (a credit spread), you must enter a negative limit price. Conversely, if you sell a spread and receive cash, enter a positive limit price. If you sell a spread and owe cash, you must enter a negative limit price."
It asks to enter a net price and quantity.
I find their platform odd. So maybe someone can help me. I would like to receive a credit of $50.
Thanks in advance!