Foundations
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7 min
Bid, ask, mid, and how fills happen
Spread is a tax you pay every round trip. On liquid options it is cheap. On illiquid options it can eat the whole thesis.
In this lesson
- You buy at the ask, you sell at the bid
- Illiquid quotes are where accounts die
- Market orders are a beginner trap on options
Continue in the app
Read the full lesson in the app
The complete lesson, with worked examples, callouts, and a quiz to test yourself, is in Iron Condor Options.