The Difference Between the Ask and the Bid Price

So when taking a look at options, you know, purchasing contracts, not shares, it's important to understand the difference between the and the ask. The bid price represents the maximum price that the buyer is willing to pay for a share of the stock or another security. You never want to pay at the ask. So what is the best way to get fill with options is to use a limit order. When buying out those further out options, the strategies that troynwisha talk about can be very effective.