This is a hilarious trade :)

[narafa]

Another user rightly pointed out in another thread that today's best trade was to sell the 800 Calls expiring tomorrow that were priced at 3 dollars (his claim that they traded at 3 bucks at some point, I did not bother to verify that)

I did that in fact, sold a couple at $2 (They traded up to $5.7 intraday yesterday, but of course I didn't manage to catch any at those prices).

Before Market open I was putting sell orders for those at $3.5 and $5, IB cancelled those orders before market open (With a message saying that price is too far outside NBBO!!!)

Besides, at IB, GME options opened late as well, not at 9:30 as it was supposed to.

 

[DiceAreCast]

Can a user turn off this security measure to cancel orders that are too far from NBBO?

I did that in fact, sold a couple at $2 (They traded up to $5.7 intraday yesterday, but of course I didn't manage to catch any at those prices).

Before Market open I was putting sell orders for those at $3.5 and $5, IB cancelled those orders before market open (With a message saying that price is too far outside NBBO!!!)

View attachment 253183

Besides, at IB, GME options opened late as well, not at 9:30 as it was supposed to.

 

[narafa]

Can a user turn off this security measure to cancel orders that are too far from NBBO?

Honestly, I don't know. This is the first time I saw this message from IB. My orders were sent and accepted (green status) before market open by around 20 mins. IB cancelled the orders right after market open and I got this message.

I placed tons of orders in other instruments before which were way too far from NBBO and there was no problem (The like of bidding 1000 shares @$0.5 for a stock trading at $10), didn't face this problem.

 

[MoreLeverage]

Can a user turn off this security measure to cancel orders that are too far from NBBO?

Probably not, judging by the other IB order “protection” measures. I ran into this too, but re-placed the orders and got a few fills on GME options yesterday.