Trading and getting fills with Interactive Brokers

[Humble]

P.S. Make sure you are looking at the portfolio page to see the new position.

[Guest]

My settings are exactly like that.

But see my portfolio page:

It's from my paper trading account.

[Humble]

Maybe it's different in paper account. Try to open a ticket with IB.

[Guest]

Ok, I will do so. Thanks for your feedback.

[Guest]

Hello fellow traders! Today I suddenly experience that Interactive Brokers tell me that I no longer have real time quotes of options, and give me the choice of going to "subscription page" or "delayed quotes. When scrolling through my subscriptions, I had to go through some pages regarding my trading experience (for stocks, bonds, options, futures and forex). When trying to keep the same levels of experience, I got noticed that I would no longer be able to trade options, futures, so I tried increasing both the experience (in years) and the number of trades per year to have this solved. But even I went through my subscriptions, I still get the same problem in TWS.

Anyone that know about the problem and could help me out on what this could be? Thank you VERY MUCH in advance. This is almost a crisis situation for me :-O

 

 

 

 

[Guest]

What I was told when applying for options approval at IB was that number of options trades had to be over 100. I was stuck in middle between 75 and 100 with the experience and range of trade I had selected. Hope this helps.

 

[Guest]

35 minutes ago, Thinkola said:

Hello fellow traders! Today I suddenly experience that Interactive Brokers tell me that I no longer have real time quotes of options, and give me the choice of going to "subscription page" or "delayed quotes. When scrolling through my subscriptions, I had to go through some pages regarding my trading experience (for stocks, bonds, options, futures and forex). When trying to keep the same levels of experience, I got noticed that I would no longer be able to trade options, futures, so I tried increasing both the experience (in years) and the number of trades per year to have this solved. But even I went through my subscriptions, I still get the same problem in TWS.

Anyone that know about the problem and could help me out on what this could be? Thank you VERY MUCH in advance. This is almost a crisis situation for me :-O

 

 

 

 

@kdunaway Thanks for the input! In addition to the experience setting that I had to increase, it seemed that my subscription "unfortunately had been terminated", so I had to get in and check the "opra US options" box to get back on track. Thanks for your help! 

[Guest]

On 7/24/2012 at 4:13 PM, cwerdna said:

I figured I'd start a general topic on IB since this isn't about commissions.

I found a quirk w/IB that I'd not seen w/TOS. I bought a FDX call (not a trade discussed here) and had an open sell order on it. With the sell order open, I tried to buy another FDX call and IB won't let me. It says "Order Reject: This account cannot have open orders on both sides of the same US Options contract in any related accounts."

If I try to override and transmit, it rejects it for the same reason. Known issue? Any workaround or just something I have to live with?

I can do the same thing on TOS (and am doing it now). it doesn't care. It lets me do that.

I'd rather not cancel the open sell order on FDX as I'd get hit w/a cancel/modify fee on IB, which is something unheard of on TOS (and most brokerages that I'm aware of).

Yes. This is definitely something that happens to everyone at IB.

It dosn't matter what type of account you have, or any other thing that I can think of where you csan resolve it from your side.

It really annoys me, but, as you say....I have just learned to live with it.

Because it is not a big enough issue to give up everything else that is superior about IB over.

[Guest]

I just came across this response I gave a few months ago when I had less knowledge about the issue.

Now I know the workaround...

Whenever you have an order in place, and you try to submit another order, where some of the options overlap each other,and cause IB to not allow you to submit it....all you have to do is right click on the original order, and choose "pause execution". This way you are not officially "cancelling" the order, just "pausing" it, and this will allow you to successfully submit the 2nd order.

But, if both orders are "away from the market" and, your intention is to leave both of them open throughout the day until one of them is filled, then you cannot do that.

I hope this helps, in the event that you want to place an order that you would want to quickly fill, then "re-activate" the original order.

[Guest]

Anybody having issues with IB execution? I can execute single leg trades, but I'm trying to roll a position and the order is just sitting at "being held and monitored". It's been like 20 minutes. Currently waiting on support to get on live chat, so maybe this is widespread if they're taking this long...

[Guest]

2 minutes ago, Sirion said:

Anybody having issues with IB execution? I can execute single leg trades, but I'm trying to roll a position and the order is just sitting at "being held and monitored". It's been like 20 minutes. Currently waiting on support to get on live chat, so maybe this is widespread if they're taking this long...

Had the same thing happen to me this morning. Not sure why. I just broke up my trade and legged out. 

[Guest]

1 minute ago, Sirion said:

Anybody having issues with IB execution? I can execute single leg trades, but I'm trying to roll a position and the order is just sitting at "being held and monitored". It's been like 20 minutes. Currently waiting on support to get on live chat, so maybe this is widespread if they're taking this long...

I'm having trouble closing a straddle in my IRA - I've run into this a few times. It happened yesterday, too. Its more common for me in the IRA than in my normal brokerage account. Last time I live-chatted to fix it, it took about an hour

[Guest]

@craigsmith 

@greenspan76

Did you ever try changing the routing? Maybe it's an issue with IB's SMART. 

[Guest]

No, i didn't try that. It could be worth trying though.

[Guest]

Just now, Sirion said:

@craigsmith 

@greenspan76

Did you ever try changing the routing? Maybe it's an issue with IB's SMART. 

I tried to a few minutes ago and it didn't give me the ability. Only SMART showed up as a choice. But like @craigsmith said, you can just leg out and it works.

[Guest]

IB rep just let me know this is a "known issue, technical teams are working on it" and "no estimate for resolution" right now. Annoying. 

[Guest]

Having the same issue with two symbols, with the rest being OK.  Waiting to see if one of my offers moves to the bid without being filled.  Calendars.

[Guest]

Same here. You cannot trade any form of combo, so far, today.

I also was on the phone with them for awhile and they let me know it was a "known issue" that is affecting everyone.

I have been with them since they opened 20+ years ago, and nothing like this ever happened.

I 've been having to leg out of positions all day and it REALLY sucks.

But, given the circumstances, I didn't get hurt too much.

[Guest]

Had the same issue yesterday evening with IBM.

[Guest]

Anyone else have IB's P&L completely broken for combo trades? Individual securities and total for account are showing (and total for account appears to include combo trades, though I haven't dug into accuracy as I don't have yesterdays mark for all of the combo trades), but all combo trades show n/a.

Moderately annoying though somewhat unnecessary for trading.

[Guest]

Have had same issue since Friday, thought they would have fixed it by now.

[Guest]

Same issue for last few days. What bums me is that the portfolio or any quote monitor page are not showing the daily computed P&L for combos. TWS is just leaving those blanks. Also if I close one of the legs, the realized profit shows up as a very huge number (would be very happy if it really deposited that sum into my account, but.. :)). Sometimes TWS gives a look and feel of software built as an undergrad project by the students..

[Guest]

For me it shows n/a for combos.

[Guest]

Just don't believe anything you see. The P/L for the day may be correct,and it may be totally wrong.

If I buy 50 calls for 1.00 yesterday, and today the market is $2.00 / $2.30, how am I showing a $1000 loss on this trade for the day?

Then, sometimes it appears to be right!

If something is not correct 100% of the time, then it is not correct ever! (at least, in this category)

[Guest]

@cuegis, issue is not that it is inaccurate, they were not showing daily pnl at all for combos. I just now restarted and they have released a patch that seems to fix the problem. So all affected please download the latest and restart. 

[Guest]

39 minutes ago, anand331 said:

@cuegis, issue is not that it is inaccurate, they were not showing daily pnl at all for combos. I just now restarted and they have released a patch that seems to fix the problem. So all affected please download the latest and restart. 

I have always updated the latest version of TWS every week or 2, for years, and on the quote page, where I have all of the spreads that I am holding listed, it has always showed an empty box where "daily pPnL" should be.

It only shows any form of PnL in the box for each individual option.

Are you saying that there is yet another new build of TWS that has finally solved this issue?

[Guest]

Just now, cuegis said:

I have always updated the latest version of TWS every week or 2, for years, and on the quote page, where I have all of the spreads that I am holding listed, it has always showed an empty box where "daily pPnL" should be.

It only shows any form of PnL in the box for each individual option.

Are you saying that there is yet another new build of TWS that has finally solved this issue?

It always showed daily P&L for combos (classic TWS/portfolio page), which disappeared a few days back, but now it is back.

[Guest]

It worked!

[Guest]

I hope I am asking this question in the correct forum......

Has anyone ever examined the wide variety of 3rd party software, which is listed under "Investors Marketplace"/ "Software Vendors Marketplace"?

There is a pretty large amount of programs that are listed by "category" (ex. "options", "order management" etc.), and also each one is rated with votes from the IB customers.

I was wondering if anyone here has used any of these programs and, if so, are there any favorites , that really are helpful?

[Guest]

I thought this might be of interest to any IB traders.

On the other hand, I might also be the only one here who didn't know this until now.

I was just on the phone with IB tech support, because some of the numbers in my account didn't seem to make sense.

For example, there is no margin requirement on a long debit vertical spread....yet I was showing a margin number.

I have always been under the impression that there were only 2 ways of margining.

1- Reg-T for equity products

2- Span for futures products

But, I just learned that there is a 3rd, entirely different margining system for any volatility related products.

Even the tech support guy at IB could not explain how it works because it is so complicated (according to him)

But, as an example, a straight out long , debit, vertical, in any volatility related product, will generate a margin requirement number.

So, there are now 3 margaining systems to be aware of.

[Guest]

I'll ask it here:

 

How to properly set One-Cancels-the-Other Order in TWS?

Let's say I bought a position for $4

"Sell when $3 (loss) or $5 (gain)"  Do I need to chain orders? or there is something more simple?

 

Edited November 1, 2017 by IgorK

[Guest]

 

This is from https://www.interactivebrokers.com/en/index.php?f=617

You can also set the OCA group in the 'basic' tab in the order ticket (right click, Modify/Order Ticket) and decide what to do in case of partical fills.

 

[Guest]

I mentioned this 2 days ago, because, I hate to admit, I only learned about then.

It happened back in late August.

The may only be relevant to those who trade at IB.

But, it is likely that other brokerages might have followed the lead on this , and be implementing the same formulas.

I posted the full article below, because it does need some explanation.

I also included the link.

Basically, VIX, and all volatility related products will no longer been margained by the normal Reg-T rules that apply to all equities, etf's, and their options.......

https://trade.collective2.com/IB-volatility-margin-increase

You should be very aware of these changes because, when you are placing a new position....if it involves volatility products, you can no longer make the same assumptions about the effect it will have on your margin.

I'm sure many of you already know about this.

 

Special Notice: Volatility Product Margin Increase

Volatility Product Margin Increase

Interactive Brokers Client Services: August 4, 2017

VIX (the CBOE Volatility Index) has established new all-time lows over the course of the past month. The price dynamics of that product are such that it can have very large relative price increases over a very short period of time base on news and other market factors. In recognition of the special risk of sudden, large increases in market volatility, that is inherent in Volatility Products such as VIX, Interactive Brokers will put into place greater margin requirements for Volatility Products after expiration processing on Saturday, 19 August. 

IB’s margin policy will be to consider market outcome scenarios under which VIX might rise to a price of 18 (even when it is currently priced much lower) and under which the other Volatility Products could rise to proportionately similar degrees. If you have positions in Volatility Products that have risk in large upward moves of market volatility, then your margin may increase significantly.

In the interim IB will with immediate effect increase its Initial Margin requirements on Volatility Products to a degree consistent with the upcoming 19 August increases in Maintenance Margin.

You can use IB’s Risk Navigator ^SM to understand how the Maintenance Margin will change for your current positions or to see what the Maintenance Margin will be for any portfolio that you would like to construct. Instructions are provided at the end of this email.

You should exercise care to plan your positions so that they will be in compliance with the new margin policy by the effective date of 19 August. Some of the factors that you should consider are listed below.

• A number of current contracts will expire between now and the effective date. Depending on the positions they may increase or reduce your upcoming margin requirement.

• Some Volatility Products have “ultra” and “inverse” characteristics. Ultra products are expected to have greater daily returns than normal products while inverse products are expected to have returns that are of the opposite sign to normal products. It is therefore expected that an increase in market volatility will result in a decrease in the price of an inverse volatility product. As a consequence, for example, under the new policy the margin on a naked short call will increase for a normal product while the margin for a naked short put will increase for an inverse product.

 

[Guest]

 

Hi! If you buy options based on IV then when you do you close your positions - when IV opposite values are reached or you check first the underlying stock chart and the option price? Thanks

Edited December 1, 2017 by kesh

[Guest]

A technical question if anyone can help...

I rolled the MSFT and IBM straddles with rolling function of TWS. Following succesful filling the new positions are shown as individual options, not combos anymore. Any idea if I can make them combos again or it isnt possible???

[Guest]

35 minutes ago, Tniko said:

A technical question if anyone can help...

I rolled the MSFT and IBM straddles with rolling function of TWS. Following succesful filling the new positions are shown as individual options, not combos anymore. Any idea if I can make them combos again or it isnt possible???

If in Classic TWS I go to option combos and  try to build and add a similar combo (straddle or strangle) and usually it pics it up as a position.

[Guest]

5 minutes ago, IgorK said:

If in Classic TWS I go to option combos and  try to build and add a similar combo (straddle or strangle) and usually it pics it up as a position.

I do the same think on the main quote page.

You type in the underlying symbol ( once you already have the options you want to use on the screen), then choose "combinations".

If you then go to the 3rd box,....the one that does not have the pre set strateties, you can then pull and drag each option , that you want to be part of your position, into the box, and create a symbol, for that combo,that will now appear on your quote screen,and can be traded (bought and sold), just like any other item.

Just be careful,...on the left, make sure that you have "buy" and "sell" setup correctly for each option in the position.

[Guest]

Thank you. However, this creates new line, it does not consolidate my existing positions into combos...

[Guest]

16 minutes ago, Tniko said:

Thank you. However, this creates new line, it does not consolidate my existing positions into combos...

Yeah, after a roll of one or more legs I have not found a way to re-create the new spread in the portfolio view.  Frustrating.

[Guest]

17 minutes ago, Tniko said:

Thank you. However, this creates new line, it does not consolidate my existing positions into combos...

Yes it does.

Once you have set it up, and then buy , or sell, the item,...it will show, on the left hand column, the positions, in that spread, that you are holding (long or short)

[Guest]

2 minutes ago, Darcy MacDonald said:

Yeah, after a roll of one or more legs I have not found a way to re-create the new spread in the portfolio view.  Frustrating.

True. Once you have altered the original position, then it now becomes something different. and will appear differently.

[Guest]

I posted this question on another forum and was told to post here..so here goes..

When you roll a straddle, selling off a side to create equal strikes, do you bust up the previous spread and create a new spread with a STO of your current position and then a BTO of your new position? This creates a new spread that is now separate from the initial spreads? Not sure how that looks and then how to sell them all without getting hit with multiple commissions...Do you have to then sell off the two spread separately or does it get recognized as a single transaction?

I am using OH (which I hate and am switching to Tastyworks).

[Humble]

No, you roll one side only.

For example: if you have 100 straddle and the stock moves to 102, you sell 100 call and buy 102 call, so now you have 100/102 strangle. Since you sell more expensive call and buy a cheaper call, you get a credit. It basically like selling 100/102 call credit spread.

[Guest]

1 hour ago, Kim said:

No, you roll one side only.

For example: if you have 100 straddle and the stock moves to 102, you sell 100 call and buy 102 call, so now you have 100/102 strangle. Since you sell more expensive call and buy a cheaper call, you get a credit. It basically like selling 100/102 call credit spread.

It's just a simple 100/102 vertical that you are selling for a credit.

[Guest]

Does anyone know if there's a way to add a custom note on a watchlist? It would be very convenient to put a price target

[Guest]

7 minutes ago, Sirion said:

Does anyone know if there's a way to add a custom note on a watchlist? It would be very convenient to put a price target

For options combo or for a stock?

[Guest]

Just now, IgorK said:

For options combo or for a stock?

either would work, as I typically would have the underlying on a line next to the options combo for quick viewing

[Guest]

Just now, Sirion said:

either would work, as I typically would have the underlying on a line next to the options combo for quick viewing

You can create an alert for a stock price I think...

[Guest]

1 minute ago, IgorK said:

You can create an alert for a stock price I think...

I don't know how I missed it, but there's a right click - add new note function on the watchlist. I swear I spent like 20 minutes fiddling around with it on Friday and gave up. So obviously after making a public post, the next time I glance at it it's BOLD FLASHING RED right there. 

Derp.

[Guest]

Based on what I read on IB's website, if I fill in an account opening paperwork, I am allowed to start paper trading. After I fund the account, I will then get to live trade... obviously!

My question is:

1. If I don't fund my account, how long can I have the paper trading account?

2. Does the paper trading account have live streaming quotes or are they delayed?

In reality, I am just trying to find a way to plot the intraday charts for mainly calendar spreads. I trade with TT and don't have that ability. I also don't need live data, I can just plot the intraday charts at the end of the day and check what the general minimum and maximum values of the Mid prices. If someone knows a better way that is free, please let me know.

Thank you.