Monday, September 28, 2009

A note about getting filled quicker on TOS

I have noticed that when trading options, when you put in a limit order at the current mark price, it can take a while for TOS to fill the order. But, for some reason, if you put the limit order in for 1-2 cents above the mark, it fills almost immediately. It might be worth it to you to do that because sometimes TOS can take a couple of hours to fill an order.

For example, I was trying to trade a spread at .93 limit order. TOS showed mark price as .93. I waited about 20 minutes before changing the order to limit .94 and was filled almost immediately. This is not the first time either - I have noticed this before as well.

On another note, I updated the diagonal spread tutorial with more details.

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