I was bidding on a trade today for Earnings in $FDX tomorrow and ultimately did not get a fill:
Short the December 141/136 Strangle for $4.05 (at the time was at a 4.01/4.07 bid/ask)
I was disappointed on the lack of a fill but more so to the fact of not taking advantage of the elevated premium (the whole point to the trade) by adjusting the bid quicker. When I looked at adjusting the price, the bid/ask had shrunk to 3.30/3.36 spread (closed at $3.33).
So what now? Well, I have 2 choices:
- whine about not getting the trade filled
- plan on doing a trade in pre-market after the reaction