Question on Eurex Combo Execution

D.M.A.

:banghead:

If you have no volume, you have no market.
If the last quote was $29????? For an OPTION ????
Before you spend another keystroke in disparaging IB (or in hiring some lawyer, who'd love to take your money in this 100% loser, cuz it means he has NO work in front of him)....
You might consider posting all the options for that underlying and that expiry, against the corresponding volume, and then look at what happens to volume when you get 1% ITM, 2%, 5%, 10%..... to freaking $29.

:banghead:

No volume? No market.
If you had posted AT THE BID, it still might've taken you considerable time to get hit. (Like, next time, place the trade AS A FREAKIN' LIMIT, then go to lunch. Take a walk on your way back. Take in the flowers, "smell the roses..." Then see IF you're hit.)

You're welcome.
 
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dhpar said:
So after 17 years with IB I had a crazy experience today. I executed a market order to sell (one option) at about 16:30 CEST. The market/bid was at 29.25 (see picture) and deep. Somehow my trade got executed immediately at 24.80, i.e. 5.45 (20%) below the market (with the market not even flinching).
Clearly some kind of an error on part of IB - but after trying to resolve it later with them they said they want to have nothing with it (some guy called Albert). Did this happen recently to anybody here? It is basically stealing customer's money...
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dhpar said:
the point really is that if I can sell it at the market for 29.25 then they should not sell it to someone internally for 24.80. That's stealing, plain a simple!
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I thought their required to adhere to the NBBO or is that only for stocks and I do notice option quotes go stale. Sorry, I've only experienced that kind of ugly filling of options with Fidelity, I really hate them.
 
dhpar said:
So after 17 years with IB I had a crazy experience today. I executed a market order to sell (one option) at about 16:30 CEST. The market/bid was at 29.25 (see picture) and deep. Somehow my trade got executed immediately at 24.80, i.e. 5.45 (20%) below the market (with the market not even flinching).
Clearly some kind of an error on part of IB - but after trying to resolve it later with them they said they want to have nothing with it (some guy called Albert). Did this happen recently to anybody here? It is basically stealing customer's money...
More...
Not sure what you were trying to show with the pic attached, but the info included is no help at all.
IB, or any other broker, just send orders to option exchange, if they internalize it, they must do it at a price between the NBBO. Sending Market Order on the option market is the best way to get screwed.
 
Why would it be an error on the part of IB?
Orders aren’t executed by IB but simply sent to exchanges. You should see which exchange executed your order, as well as everyone else should be able to see your trade in times and sales data.
It does look strange that your trade chart doesn’t show your own trade, but also do show the bid/ask chart to see where the bids where.
And you might’ve fell victim of spoofing, so maybe it’s worth contacting the exchange and the SEC. I’m not sure, as I never place market orders. I already get bad fills on limit orders when my limit is unfavorable to myself, so I can’t imagine placing market orders.
 
and to clarify. I am well aware of MKT orders problems myself. And I almost always use LMT - and trade for over two decades. so thanks to all smart alecks here for advice on this front.
the thing is that once this problem occurs (and you submit MKT) I would expect some robust infrastructure to prevent obvious crap like that. that's what the good broker should be about. that's what e.g. regulators require them to do...
 
dhpar said:
jeez. stupidity still rains here. why do you think that $29 call option is deep in the money? you are welcome!
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"Rains"?

Liquidity is just not your subject, is it. :wtf:

("Not liquidity of any sort.") :D

:p

:cool:
 
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