strike selection question

Well, the MMs must be watching this thread and finally decided to fill me ... :D

Actually, the price continued to fall off. Unfortunately, I put my order in when it was XOM was at 64.90 and it had to fall to 64.30 before I was filled. Perhaps I just need to lower my expectations?

Quote from spreadn00b:

Hrmmm ... I'm trying to place a spread today as a test on XOM. The Bid/Ask on the spreads was 1.00/1.30, I came in at 1.15 to test the waters (1 measly contract). As the price came down, the Ask came down to 1.20 and I still didn't get filled. Damn.

Is this fairly typical? I believe theoretical price was about 1.10, so 1.15 was no big deal, but once I pushed it up to 1.30, this really started to hurt P/L.
More...
 
Dont shave so much till the mid....give more than mid...

1.00-1.30, try more than 1.15, like 1.20. If you give 1.15...gotta wait, most likely filled when the underlying move enough.
 
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