RE: [TheOptionClub.com] re buy back of short options

 

 

If the Bid is 0 and Ask is 10 cents, an order for 1 cent won't get filled. You would need to Bid at least the midprice of 5 cents; but you will probably have to offer closer to the 10c Ask to get filled. Call TOS trading desk for discrepancies.

 

 

That is not necessarily true.  I usually put all my bids in just above the bid and frequently get filled.  I can always raise it later if I get tired of waiting.  I often get fills below the mid-price.

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