Has anyone had experience with IB's Smart router with synthetic call combos (buy stock, buy put)?
I was trying to use them and ran into two issues:
1. On a fairly liquid issue (a top 10 by dollar volume on NYSE for the day), even with a relatively wide spread (like 7c) to the implied offer, the order still would not fill.
I was unwilling to take an unlimited slippage risk (there's a checkbox for that in the order entry sceen), but I'd thik that 5c or 7c for a stock in the $30-$50 range, with penny quoted options, for a top 10 by dollar volume issue would be plenty.
2. Also, more annoyingly, when I cancelled the order, it stayed in status Orange (vs Red/confirmed out) until the end of day.
I was trying to use them and ran into two issues:
1. On a fairly liquid issue (a top 10 by dollar volume on NYSE for the day), even with a relatively wide spread (like 7c) to the implied offer, the order still would not fill.
I was unwilling to take an unlimited slippage risk (there's a checkbox for that in the order entry sceen), but I'd thik that 5c or 7c for a stock in the $30-$50 range, with penny quoted options, for a top 10 by dollar volume issue would be plenty.
2. Also, more annoyingly, when I cancelled the order, it stayed in status Orange (vs Red/confirmed out) until the end of day.