ahujat Posted January 4, 2023 Report Share Posted January 4, 2023 Since the price increment of options which are priced above $3 move in $0.05 increments, the mid-price, sometimes, falls in between the bid/Ask which is not an increment of $0.05 e.g Option's Bid/ASK is 3.1/3.15. The mid-price displayed in the ticket window is 3.12 which gets rejected, at least by Webull. Same is true for $SPX options which are always priced in increments of $0.05 even for the Bid/Ask being less than $3. Can this be fixed? Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted January 7, 2023 Report Share Posted January 7, 2023 We looked at the 0.05 vs penny increment multiple times including the last time back in August. Cannot get a clear picture of what symbols and what brokers do restrictions to 5 cents. So for now everything is in 0.01 increments. Quote Link to comment Share on other sites More sharing options...
ahujat Posted January 7, 2023 Author Report Share Posted January 7, 2023 (edited) I believe it's not what brokers support, but the options exchange supports. (IB has an internal mechanism to round up or down for sending to exchanges but keep the penny pricing for internal IB clients only). Information about the penny vs nickel vs dime increments Option Price Increments : tastyworks List of tickers that support penny incrments (Watch from 17.:10 minutes onwards. The list is under N-S, in the new Thinkorswim version instead I-R in the video) Penny Increment Option Pricing Essentials | Your First Trade| TD Ameritrade Network Edited January 7, 2023 by ahujat Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted January 8, 2023 Report Share Posted January 8, 2023 y, the rules have been changing dramatically since the penny stuff started and getting a clear concrete list of symbols that trade penny vs ones that trade at the 5/10 above/below 3 is the part that is difficult Quote Link to comment Share on other sites More sharing options...
ahujat Posted January 8, 2023 Author Report Share Posted January 8, 2023 ThinkorSwim has that list. The list might change now and then but not like every day. Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted January 8, 2023 Report Share Posted January 8, 2023 We don't have a way to get it at this time Quote Link to comment Share on other sites More sharing options...
ahujat Posted January 8, 2023 Author Report Share Posted January 8, 2023 Hmm, I can get you the list, but I guess that's not the problem. Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted January 8, 2023 Report Share Posted January 8, 2023 can you give me exact steps to get the list in TOS (hate videos) Quote Link to comment Share on other sites More sharing options...
ahujat Posted January 9, 2023 Author Report Share Posted January 9, 2023 This might be a better place to get it https://www.nyse.com/publicdocs/Penny_Interval_Program_Issues.xlsx Quote Link to comment Share on other sites More sharing options...
Jerry Medved Posted January 9, 2023 Report Share Posted January 9, 2023 what is the URL of the page that listed the above link? Quote Link to comment Share on other sites More sharing options...
ahujat Posted January 9, 2023 Author Report Share Posted January 9, 2023 I did a google search which took me to the following https://www.nyse.com/markets/american-options/reports On that page there is a subsection “Penny Interval program” Quote Link to comment Share on other sites More sharing options...
ahujat Posted January 9, 2023 Author Report Share Posted January 9, 2023 IB option pricing. You might have to provide separate handling for IB. Enter Penny-Priced Options Orders (interactivebrokers.com) Quote Link to comment Share on other sites More sharing options...
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