Wide BID-ASK Protection ALGO stop
under consideration
C
CHUG
There are times where the bid ask spread explodes with seemingly no underlying movement. Think about the morning of 8/5. You are using algo stops on your DCs & it’s trying to close your position when the bid ask spread is massive leading to potentially a horrible fill. Also, look back to September/October 2024 when people were getting stopped out for 40$ on a 8$stop. This happened numerous times on 3-5point candles. This did NOT happen on SPY/ES. After a handful of seconds, the option price immediately plummets back to fair value after people have gotten destroyed. I’m asking for something to be implemented similar to the other automation platforms like TS. This is a must have IMO for the safety of users who utilize algo stops.
r
rusty.moorman@optionomega.com
under consideration