Market orders in options with IB, resulting in major pricing discrepancy

N

nixodian

I had set a conditional sell market order on an option spread, the condition was met, so it became a market sell order.
I received 1.14 but the time and sales show l should of received min 1.23, by selling at the bid and buying another leg at the ask
3.07(the bid price of the 140put)-1.84(ask price of the 138p) as shown on time and sales attachment.

The trade was queried and the time and sales attachment was sent to IB customer service, The person who took it up even indirectly confirmed the red outlines represent my trade.

He does not seem to be aware that the simple arithmetic of selling at the bid and buying at the ask, would give me 1.23, yet I only got 1.14. He has not clarified this point and closes the ticket (enquiry) repeatedly, saying he has explained himself, when he hasn't explained this time and sales issue.

is this to be expected?
 
I had similar experience, the legs data in the options time and sales often don't add up, with myself getting a bad deal by as much as 15%
Their customer service just don't want to know, management included. I'd advise go to a none cheating broker, IB make so much just from giving clients poor executions, no matter what their claims are. they can afford to pay for the best reviews.
 
Quote from nixodian:

I had set a conditional sell market order on an option spread, the condition was met, so it became a market sell order.
I received 1.14 but the time and sales show l should of received min 1.23, by selling at the bid and buying another leg at the ask
3.07(the bid price of the 140put)-1.84(ask price of the 138p) as shown on time and sales attachment.

The trade was queried and the time and sales attachment was sent to IB customer service, The person who took it up even indirectly confirmed the red outlines represent my trade.

He does not seem to be aware that the simple arithmetic of selling at the bid and buying at the ask, would give me 1.23, yet I only got 1.14. He has not clarified this point and closes the ticket (enquiry) repeatedly, saying he has explained himself, when he hasn't explained this time and sales issue.

is this to be expected?
More...

Would you please PM me the day, time, and underlying in which you experienced it?
 
Quote from IBsoft:

Would you please PM me the day, time, and underlying in which you experienced it?
More...

April 10th 2012, Tuesday, 10:23:46 ,sell SPY bear put combo (sell 140 buy 138put) 140put 138put, details in attachment, as you can see from the the attached time and sales of the individual legs, 1.23 should of been received. by selling at the bid of 140p and buying at the ask of the 138p.
Got told that since the trade happened at end of 46th second, it got rounded up to 47th sec
anomalies that need explaining
 
thanks for willingness to look into it IBsoft :)
the CSmanager kindly explained to me that it is because of a conflict of time zones, so I have set my computer to US ET time now and hope this problem won't arise again.

thanks
 
Quote from nixodian:

thanks for willingness to look into it IBsoft :)
the CSmanager kindly explained to me that it is because of a conflict of time zones, so I have set my computer to US ET time now and hope this problem won't arise again.

thanks
More...

Wait, what?

You had to:

1-select the ET time zone in your preferences in Windows.
2-set the time to be ET (eastern standard time) thus not matching your real local time zone time

or

3- both?
 
Quote from braincell:

Wait, what?

You had to:

1-select the ET time zone in your preferences in Windows.
2-set the time to be ET (eastern standard time) thus not matching your real local time zone time

or

3- both?
More...

I'm over in asia just now, and time is currently 12hours ahead of US ET, so confusion can arise when looking at the time and sales, anyhow l set it up to have US ET time zone, tws has taken up the time on bottom right, so time and sales problem will hopefully not arise again, otherwise u will hear about it
 
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