Penny options with IB: Results?

Quote from tef8:

Audit trails show me selling for 2.40

II typed in 2.63 limit clicked on "T" for transmit

Watched it immediately sell for 2.40!

2.63! that was typed in! NOT what the audit trails show! (dead serious about that)
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What was the Bid/Ask spread at the time you placed the order?? I assume it was in the $2.60/$2.70 range. Seems to me it must have been moving a lot for you to have gotten a fill at $2.40. Even if you did mistakenly enter $2.40 as the limit, IB's Smart routing should have gotten you executed much higher than that if the Bid/Ask was higher.

Jack
 
Quote from JackR:

What was the Bid/Ask spread at the time you placed the order?? I assume it was in the $2.60/$2.70 range. Seems to me it must have been moving a lot for you to have gotten a fill at $2.40. Even if you did mistakenly enter $2.40 as the limit, IB's Smart routing should have gotten you executed much higher than that if the Bid/Ask was higher.

Jack
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Could it be you typed it in but it didn't 'take' and you sold the bid?

If there was a bug then many would be having the trouble, and they are not.
 
Quote from stock777:

Could it be you typed it in but it didn't 'take'
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That's happened to me a couple times. I backspace over the old price, type in a new price, followed by enter, and the previous price remains there.

With IB, though, you'll likely never get an option fill that's worse than the NBBO, so any mistake has limited impact.
 
Quote from loufah:

That's happened to me a couple times. I backspace over the old price, type in a new price, followed by enter, and the previous price remains there.
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Are you talking also that the order went through?

With IB, though, you'll likely never get an option fill that's worse than the NBBO, so any mistake has limited impact. [/QUOTE] Yet spread between bid and ask can still be horrendous.
 
Quote from Option Trader:

Are you talking also that the order went through?
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Occasionally, yes, if I was doing things quickly and didn't verify the price before transmitting. type type type type type enter transmit tada OH DAMN.

After a couple of those I learned to slow down and look at the price before clicking on transmit.
 
Quote from tef8:

very definitely typed 2.63, sold at 2.40,
IB will not adjust trade!
Audit trail shows what executed at so no relief there.
I'm not hallucinating - and not the first time this has happened to me with TWS in regards to I enter one number and another executes.
Been trading for 7 years, not newbie.
Occasionally TWS is crap imo.
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If this gets really bad... you can get a product that will screen record at 15 to 60 second bursts when you decide to trade...

www.techsmith.com

their SnagIt app... then you have the pic of the rip and legal recourse or at least arbitration recourse...

cj...

:)


HAVE STOP - WILL TRADE
 
As tef8 has never responded to some questions about other possible explanations to the problem and he/she also stated that IB had never made good on tef8's other problems, I'd go with operator error.

Jack
 
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