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a couple of months back I had 4 long deep out of the money option on oil. I noticed after a while that they were in the money when the market was closed but out of the money when the market opened. ok interesting movie. this went on for several days. I went to the real market and checked the open positions for what should have been my options and found zero open interest. clearly only IG was involved with the trade.

then one night I got up at 3am caught the market open found my options in the money, so I thought awesome I can cash them in.

except, when I went to sell them I got some sort of error about some limit. long options limits are not my problem. I kept trying and eventually the little wheels spun and the system sold off tiny percentages of my options, leaving me with 2.73 options that were now out of the money. you have to be kidding me.

So what happened? obviously IGs systems tried to offset the loss since they were the counterparty and were unable to so they simply didn't honour the pricing.

I am sure the t&c's are clear that any pricing is purely indicative and can't be relied on especially if IG are about to take a hit.


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whats not clear? tried to sell my options but the system wouldnt let me. and when it did it only sold 1.27 out of 4 options leaving the rest out of the money. I think this is called fake slippage since these options never saw the light of day of a real market.


carefactor zero from IG

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