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.

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From: OptionClub@yahoogroups.com <OptionClub@yahoogroups.com>
To: OptionClub@yahoogroups.com <OptionClub@yahoogroups.com>
Sent: Thu Feb 11 07:16:05 2010
Subject: [TheOptionClub.com] re buy back of short options

 

Hi,

some time ago I sold 10 DT April 17.50 calls for 0.20 each.
Now the bid/ask spread is 0.00/0.10 and I want to buy them back
to regain that margin, because it is still a while until April.

So I entered in my IB account the trade btc for 0.01 each,
yet on my TOS trading platform it does not show up.
TOS is still giving 00/10.

So I wonder if I can't trade DT in penny increments?
Anybody know?

Thanks, gis
P.S. DT is Deutsche Telekom

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