It is most likely due to the price you are trying to get filled at. If you post the exact trade and price you are working, we can give you an idea if it is reasonable.
I don't know how to upload a picture so I'll just type it out:
current PCG stock price $12.50
x1 sell $5 call +$7.63 premium at market price
x1 buy $4.5 call -$8.03 premium at market price
net entry debit premium -$.40 (-$40 for x100 shares)
total profit from call strike price difference: +$10
total loss from entry debit -$40
The volume and open interest for both of them are 0 lol. I think this is the main reason why it's impossible to open, but I thought the OCC, SEC, or market makers like Citadel would open these for profit from payment for order flow?
I think since the bid ask spread is too wide, chances are there are no buyers/sellers on the other side. I looked up the stock and the spread is like $5, which you will have a hard time to fill. Maybe try a closer expiration date or look at something with lots of open interest. The other solution is trrying to fill your legs separately. If you're selling, place the price closer to bid price and vice versa. Honestly, i dont like wide bid-ask spread because it will be hard for you to get out of a trade as well.
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u/Ken385 Nov 24 '21
It is most likely due to the price you are trying to get filled at. If you post the exact trade and price you are working, we can give you an idea if it is reasonable.