EvanAlmighty Posted July 15, 2022 Report Share Posted July 15, 2022 Hey there, I created an account just to ask this question since I couldn't seem to find any information or settings available to adjust this. I trade primarily (almost exclusively) options. And I love utilizing the in chart trading feature that you guys have. But there's one thing that I've noticed. The Y-Axis price adjustment doesn't seem to be consistent across various contracts of various prices. For example, when loading up an option chart of SPY, when I go to select which price I want to place my order at, the Y-Axis moves in increments of .01 cents. But RBLX will move in increments of .05, and META in increments of .10 - so I'm unable to place orders in between say, 2.50 and 2.55, even if the ask/bid is in between those price points - it'll just round to the nearest .05 or .10 increment. What I would like to know, is there a way to adjust this setting that I'm just not seeing? I'd like for all my orders to adjust on a .01 increment basis. *Side note* It also seems to apply to the trade ticket itself, and adjusting the spin increments seems to do nothing. Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted July 16, 2022 Report Share Posted July 16, 2022 different options trade in different increments, depending on price and also on the symbols. The symbol specific stuff - we have to manually update - FB changed to META and that did not get reflected in our symbol list. I will update the list of symbols that trade in smaller increments. If after the update you still see some that are incorrect, please let us know. I will email you with the update shortly Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted July 16, 2022 Report Share Posted July 16, 2022 emailed you Quote Link to comment Share on other sites More sharing options...
EvanAlmighty Posted July 21, 2022 Author Report Share Posted July 21, 2022 So I messed around with the update a bit, and it's definitely an improvement. But I've also noticed that there are some contracts within the same symbol that trade in higher increments (random example - 155 strike, .01 increment - 150 strike, .05 increment). I know I may be asking for a lot here, but is there a way to just blanket the settings across all symbols and contracts to change in .01 increments? Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted July 21, 2022 Report Share Posted July 21, 2022 strike price is irrelevant. The cost of the contract and whether or not it is above or below 3.00 is what makes the difference, and the symbol. Please give specific examples Quote Link to comment Share on other sites More sharing options...
EvanAlmighty Posted July 21, 2022 Author Report Share Posted July 21, 2022 (edited) Looking at it again after you mentioned the 3.00 price point, it makes complete sense now. Looking at META, the contracts trading under 3.00 were moving in increments of .01 while anything above was in .05. And like you said, it appears to apply to certain symbols only. IBM for example seems to change in increments of .01 across the board regardless of option price. Personally, I find this better when trading options in the chart - I like pin point accuracy when setting up my orders. Edit: Looking at IBM again, I guess I wasn't entirely correct. The 135 strike is priced over 9.00 and moves in increments of .05. The 133 strike is priced over 7.00 and moves in increments of .01. The 129 strike is priced over 3.00 and moves in increments of .05. Edited July 21, 2022 by EvanAlmighty Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted July 21, 2022 Report Share Posted July 21, 2022 you seem to be missing the point. It isn't that MT is restricting the trading to 0.05. The market does not allow it. If you see a symbol trading in 0.01 but MT increment is 0.05, let us know Quote Link to comment Share on other sites More sharing options...
EvanAlmighty Posted July 21, 2022 Author Report Share Posted July 21, 2022 I added an edit to my previous reply with an example. When trading directly in IBKR, whether their mobile app or TWS, I'm able to set my orders in the chart in .01 increments across all symbols and contracts, just the same if I were to enter the price manually. I understand that some contracts trade in .05 increments on the bid/ask, that's not necessarily what I'm referring to. I'm talking specifically about order entry. If I select a contract in MT and in the chart the trading capsule moves in .05 increments, I'm still able to instead, open the trade ticket and manually enter the price I want. I'd rather avoid that and trade directly in the chart with the trading capsule. Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted July 21, 2022 Report Share Posted July 21, 2022 will check on it further. Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted August 6, 2022 Report Share Posted August 6, 2022 I cannot get clear info on the penny trading now and it seems that the brokers are allowing 0.01 increments on orders for all options, so for now I just set it to 01 in MT for all. Will be in next update. If you need it before then, let me know. Quote Link to comment Share on other sites More sharing options...
EvanAlmighty Posted August 9, 2022 Author Report Share Posted August 9, 2022 (edited) Amazing, thank you so much! Edited August 9, 2022 by EvanAlmighty Quote Link to comment Share on other sites More sharing options...
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