Question for anyone who could enlighten me. I just made few trades today being short TQQQ puts expiring today. I noticed that there was a stark difference between the bid-ask spread between the two brokers I am using. I understand that volatility will increase this spread but trying to understand why there would be such a stark difference towards the end of trading day when most options out of the money would be 0.01 on the bid and 0.02 on the ask.

    I had to keep an open short position (avoid good faith) on TQQQ strike 67 put at Fidelity which showed around 0.02 bid and 0.03 ask around 3 PM-ish which makes sense to me. However, when I was checking the same pricing on IBKR (I am able to day trade) around the same time it was quoting me a bid of 0.07 bid and 0.08 ask. As the trading day was coming closer to a close the same option on IBKR was showing a 0.01 Bid and 0.10 Ask while Fidelity was showing a tight spread of .01/.02 bid-ask.

    Is this because Fidelity uses PFOF so I am getting better quotes? Shouldn't these be the same even if I am having IBKR route my orders? I am only trading 2-3 contracts so it shouldn't be such a large spread or discrepancy. Noticed the option chain would be strange on IBKR where a 66 put was priced at .01/.02 bid/ask while a 66.5 put was priced at .03/.04–wouldn't they both basically be worthless?

    Fidelity vs IBKR Pro – Option Bid-Ask
    byu/needajob10923 inoptions



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