This question is regarding the execution of 2 exchange traded calendars combined to make a fly. When you submit the fly to the broker with a limit order, the first side enters on a limit order and the second side enters on a market order.
Does this mean I automatically lose 1 tick entering the fly with a limit order? And if I enter the fly with a market order do I automatically lose 2 ticks (both sides using market orders)? How does it work?
I’ve also been watching clips of STIRS spread…