The option market makers are allowed to post a Bid of "zero" as part of their two sided bid/ask market. If there is no bid for your long option you will not be able to sell it. Also a sell MKT market order can not trade when there is no displayed Bid. You can wait for a bid to appear and place a Limit order or you may have to hold the position until it expires and is removed from your account after expiration.
How can I sell an option when there is no bid?
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Why is my FX Closing trade getting rejected due to low balance?
A Cash account must have enough cash to cover the cost of a position plus commissions and can never hold a negative cash balance. When placing a Market order (or Stop order), the order value cannot be known with certainty prior to execution as the market can move in any direction at any moment. Because of this, an extra 5% is added to the order amount at the credit check step for Market type orders to account for market movements. If you receive an order rejection for not enough Settled Cash when you do in fact have the Settled Cash to execute your order at your desired price and quantity, try using a Limit order (or Stop Limit order for a Stop) or reduce the MKT order size…
Why are there no quotes for the Future Option (FOP) I am looking at?
The CME and NYBOT exchanges do not require futures/FOP Market Makers to post continuous Bids or Asks. It is not unusual for Future Options with strikes away from the money to not display active bid/ask data. If you enter a Limit order the exchange will display your price. Please note, if you get into a position that is rarely quoted you may not be able to close it and you may have to hold the contract until it expires…
Why did I get a warning message stating "Market Order was Repriced"?
It is against regulatory rules to trade with your own orders. If you currently have a limit order working and you place a MKT order for the same product on the other side of the market, you will receive this warning as it is possible those two orders could trade with one another. To avoid this, use limit orders with specified prices so your open Buy and Sell orders will not cross…
How do I create a Market order in TWS?
A Market order is an order to buy or sell at the market bid or offer price. A market order may increase the likelihood of a fill and the speed of execution, but unlike a Limit order, a Market order provides no price protection and may fill at a price far lower/higher than the current displayed bid/ask…