About time NMO showed up!
I knew something was missing...
I knew something was missing...
TASR trade busted on ISE!!!!!!
- Thread starter heilbronner
- Start date
TASR is a wild stock. The price moves in giant chunks. How can they claim a fill a stinking buck out of line is erroneous? ISE is automated, so they blew it on thier end. At bare minimum , they should make the trader whole , so he doesn't incur a loss on the round trip.
If this was in fact a RESTING limit, and not a grab for a mispriced contract, even more heinous.
If this was in fact a RESTING limit, and not a grab for a mispriced contract, even more heinous.
heilbonner
demand restitution these guys wil cave. If not take it to arbitration. It nuts that they have an out of range volatilty measurement yet they do not use that filter on their computer.
Discovery would be a great part of arbitration. How got the fill, how often does that party get busts.
I bet they cave because if you ask the right questions you will have fodder for the local district attorney.
Also, I am will to coach you from a far. I am licensned in ca and I do not practice anymore but I have always hated seeing people say your screwed its the law.
demand restitution these guys wil cave. If not take it to arbitration. It nuts that they have an out of range volatilty measurement yet they do not use that filter on their computer.
Discovery would be a great part of arbitration. How got the fill, how often does that party get busts.
I bet they cave because if you ask the right questions you will have fodder for the local district attorney.
Also, I am will to coach you from a far. I am licensned in ca and I do not practice anymore but I have always hated seeing people say your screwed its the law.
The option exchange cannot keep track of all the orders of every trader. It is up to the broker to do that.
About 10 months ago, I entered an One-Trigger-Other combo order. The first MSFT option trade was executed. Then the second one was submitted to the exchange, and executed as well. For some unknown reasons, PSE busted my first trade. My broker busted the second order on my behalf.
I still do not understand why the exchange busted the trade. It would be hard to believe that a MSFT option order could be filled out of the volatility range.
However, I did lose nothing, so I let it go.
Quote from omcate:
The option exchange cannot keep track of all the orders of every trader. It is up to the broker to do that.
About 10 months ago, I entered an One-Trigger-Other combo order. The first MSFT option trade was executed. Then the second one was submitted to the exchange, and executed as well. For some unknown reasons, PSE busted my first trade. My broker busted the second order on my behalf.
I still do not understand why the exchange busted the trade. It would be hard to believe that a MSFT option order could be filled out of the volatility range.
What broker?
This trade was busted under the obvious error rule at the ISE. The order was received at 9:54 .. filled at 9:58 and busted and reported at 9:58
To view the obvious error rule you can visit the ISE website
www.iseoptions.com
The prevailing market was $14.90 X $15.30 at the time of the bust
Hope that helps
To view the obvious error rule you can visit the ISE website
www.iseoptions.com
The prevailing market was $14.90 X $15.30 at the time of the bust
Hope that helps