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Pro Tips · Aug 26, 2026

Option Quotes Have Two Prices: Measure the Bid–Ask Spread

An option’s bid and ask can hide a large dollar gap inside an attractive premium. Convert the spread into dollars per contract before comparing wheel returns.

PRO#wheel#options-education#bid-ask-spread#liquidity#execution
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Photo: U.S. National Archives via USDA/Wikimedia Commons (public domain; cropped)

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3 min read

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2 sources cited

The Options Industry Council describes the bid as the highest displayed price a buyer is willing to pay and the ask as the lowest displayed price at which a seller is willing to sell. OPRA combines exchange quotes into the National Best Bid and Offer.…

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