Today I tried a small call warrant trade (my first other than the gold warrant). I was only really hoping for break-even or slightly better, as it was just a trial.
I bought ANZWOH for $0.205 this morning, keeping a limit sale order ready to go at $0.19 in case I had to get out quickly.
Just before closing, it finally pushed up to give the MMs bid of $0.21, which I decided to take. Just as I hit the sell confirm, the MMs bid rose to $0.215 (both with 25K volume, where I had 20K warrants). I then looked with interest to see if I got the $0.215 or only the $0.21.
So I was rather unimpressed to see that 8164 of the warrants sold at $0.19, with the rest at $0.21. How could I only get $0.19 for some of the order when the MM had bids in for $0.21 going on $0.215 - and there were no bids at all at $0.19? The net result was a $63 loss when it should have been a $100 gain (excluding brokerage).
Is this normal, or something I should query with the MM (CTI) or my broker?