I have been trading options about 3 years now- both day trading near expiration and longer term vol harvesting strategies. So I have a good general concept of them.
Today I decided to trade some /mes options. I played a simple long put spread, bought the 2/19 6145p and sold the 2/19 6140p. I paid 2.00 for the spread. My understanding is each point on an /mes contract is $500. Anyway the position moved in my favor and I had set a limit sell for 2.30, which I thought would be a profit of $150. It was difficult to get a read on value as the bid/ask spread was quite wide.
Anyway I was surprised that my sell to close never filled, even though /mes hit (basically) 6136. I realize the volume is low but my buy filled pretty quick. Also it shows no open interest for the 2/19 6145p- but I have one...
So- any advice? Was my limit too high? Does it need to be multiples of .25 to fill? Or was it just an issue of no liquidity?