Iron condor pricing in IB WebTrader or TWS

[nerdzkilla]

Hi,

I am trying to learn to create an iron condor using simulated trading in Interactive brokers web trader and tws. Below is a screenshot of a paper trade:


Can someone please have a look at this and advise if I have priced this correctly? At this stage I am not concerned about the strike prices. I am trying to find out what commissions I will get charged for these and if I have priced the options correctly? Also, is it cheaper to do a combination trade or buy/sell an option one by one?
I went onto the ASX website and found the options value through the theoretical calculators in there. Is there a quicker way of pricing these?

 

[village idiot]

I put your combo into TWS and it priced it at bid 33 offered 45 so not sure where you get 22

these are the real market prices right now;
38.5 call 40.5-42.5
38 call 63-66
37.5 put 70.5-74
37 put 54.5-57.5

commission for 10 contracts =$12 ( 4 legs times $3 per leg)
the commissions are the same whether you leg in or do a combo order, but you would generally use a combo order where possible as you will get a better overall price (nearer the mid point) and no slippage

 

[nerdzkilla]

I put your combo into TWS and it priced it at bid 33 offered 45 so not sure where you get 22

these are the real market prices right now;
38.5 call 40.5-42.5
38 call 63-66
37.5 put 70.5-74
37 put 54.5-57.5

commission for 10 contracts =$12 ( 4 legs times $3 per leg)
the commissions are the same whether you leg in or do a combo order, but you would generally use a combo order where possible as you will get a better overall price (nearer the mid point) and no slippage

Thanks for your reply.

How did you get TWS to price the iron condor? For me the bid and ask fields are blank. that is why i had to key in the number 22 manually.

Also the real market prices you mentioned above. are they in cents? Can i ask where you got these from?

Sorry too many questions at once. I have been trying to figure TWS for a while and the more I try to discover the more confused i get

 

[cutz]

How did you get TWS to price the iron condor? For me the bid and ask fields are blank. that is why i had to key in the number 22 manually.

Are you subscribed to ASX data ?

 

[nerdzkilla]

Are you subscribed to ASX data ?

Hi Cutz,

No I am not subscribed to asx data. I am subscribed to american stock data however I still cannot see the bid/ask prices against iron condors/ straddles etc

 

[nerdzkilla]

Are you subscribed to ASX data ?

here is an attachment of an BAC iron condor. notice how bid ask prices are blank. The fields are blank maybe because the markets are closed?

 

[village idiot]

How did you get TWS to price the iron condor? For me the bid and ask fields are blank. that is why i had to key in the number 22 manually.

I just used the combo order ticket, which it looks just like you have done with BAC to get the line up with the combo in it. I havent any idea why your line doesnt have the prices in it, but presume it is just because it is a simulated account?

Also the real market prices you mentioned above. are they in cents? Can i ask where you got these from?

yes they are in cents. I got them from the equivalent of the lines in TWS that you have got for BAC.

 

[nerdzkilla]

I just used the combo order ticket, which it looks just like you have done with BAC to get the line up with the combo in it. I havent any idea why your line doesnt have the prices in it, but presume it is just because it is a simulated account?




yes they are in cents. I got them from the equivalent of the lines in TWS that you have got for BAC.

Hi,

I tried the same in my real account and the prices still did not appear. I have emailed IB helpdesk. See what they say..

Thanks,

 

[nerdzkilla]

Hi,

I am trying to learn to create an iron condor using simulated trading in Interactive brokers web trader and tws. Below is a screenshot of a paper trade:


Can someone please have a look at this and advise if I have priced this correctly? At this stage I am not concerned about the strike prices. I am trying to find out what commissions I will get charged for these and if I have priced the options correctly? Also, is it cheaper to do a combination trade or buy/sell an option one by one?
I went onto the ASX website and found the options value through the theoretical calculators in there. Is there a quicker way of pricing these?

IB responded to my questions ..so this is for someone who is interested in the answers

I cannot see the bid/ask prices for spreads for australian options because I am not subscribed to asx data

I cannot see the bid/ask prices for spreads for USoptions because the spreads i need pricing for do not exist in the market. They may also not appear if the markets are closed. Right click on your strategy and Select 'RFQ' Request for quote and the request goes to the market makers for a quote.