SPX options

M

monee

SPX OPTIONS

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Does anyone know if you are placing a limit order to open or close a fast moving SPX option, how far away from current bid and ask you can be away from and not have the order rejected?

I have received messages limit order too aggressive.

If the bid is 27 and offer 30 and I want to get out would like to know could I place a limit order at 25?

Don't want to place a market order any get a fill too far away.

Thanks.
 
monee said:
SPX OPTIONS

renderTimingPixel.png

how far away from current bid and ask you can be away from and not have the order rejected?
More...

Why don't you just test it out yourself and throw an order that is far away from the bid or ask & see if it is rejected or not. There is nothing to lose.
 
Last edited:
monee said:
SPX OPTIONS

renderTimingPixel.png

Does anyone know if you are placing a limit order to open or close a fast moving SPX option, how far away from current bid and ask you can be away from and not have the order rejected?

I have received messages limit order too aggressive.

If the bid is 27 and offer 30 and I want to get out would like to know could I place a limit order at 25?

Don't want to place a market order any get a fill too far away.

Thanks.
More...

You can check with CBOE to see if they have such price limit on limit orders. I think it also depends on the broker.
 
GotherL said:
Why don't you just test it out yourself and throw an order that is far away from the bid or ask & see if it is rejected or not. There is nothing to lose.
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I guess I could and keep placing orders close and closer to NBBO and see when it doesn't get rejected.
 
Firm rule - there is stuff in the SPX book more than 100 points out. Guessing your firm is holding this upstairs. You can see SPX rules and fees online. Your broker is just being frugal and not wanting to put it in the public book and not wanting to pay a floor broker to hold it.
 
ajacobson said:
Firm rule - there is stuff in the SPX book more than 100 points out. Guessing your firm is holding this upstairs. You can see SPX rules and fees online. Your broker is just being frugal and not wanting to put it in the public book and not wanting to pay a floor broker to hold it.
More...
ajacobson said:
Firm rule - there is stuff in the SPX book more than 100 points out. Guessing your firm is holding this upstairs. You can see SPX rules and fees online. Your broker is just being frugal and not wanting to put it in the public book and not wanting to pay a floor broker to hold it.
More...

Interesting.
Thanks.
 
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