diff --git a/cli/src/_common.py b/cli/src/_common.py
index c6a5144..fbf6cad 100644
--- a/cli/src/_common.py
+++ b/cli/src/_common.py
@@ -114,6 +114,7 @@ def print_output(
     request_id: str | None = None,
     title: str | None = None,
     strict: bool | None = None,
+    warnings: list[str] | None = None,
 ) -> None:
     _ = json_output
     _ = title
@@ -121,6 +122,7 @@ def print_output(
         "ok": True,
         "data": data,
         "error": None,
+        "warnings": warnings,
         "meta": build_meta(command=command, request_id=request_id, strict=strict),
     }
     print(json.dumps(payload, default=str, separators=(",", ":")))
diff --git a/cli/src/market.py b/cli/src/market.py
index adcc4ed..2a108ef 100644
--- a/cli/src/market.py
+++ b/cli/src/market.py
@@ -92,8 +92,9 @@ def quote(
         result = run_async(daemon_request(state, command, params))
         data = result.data
         quotes = data.get("quotes", [])
+        warnings: list[str] = []
         if isinstance(quotes, list):
-            _warn_on_quote_results(
+            warnings = _warn_on_quote_results(
                 quotes,
                 provider=state.config.provider,
                 intent=str(data.get("intent") or state.config.market_data.quote_intent_default),
@@ -105,6 +106,7 @@ def quote(
             command=command,
             request_id=result.request_id,
             strict=state.strict,
+            warnings=warnings or None,
         )
     except BrokerError as exc:
         handle_error(exc, json_output=state.json_output, command=command, strict=state.strict)
@@ -319,43 +321,45 @@ def _warn_on_quote_results(
     provider: str,
     intent: str,
     provider_capabilities: object | None,
-) -> None:
+) -> list[str]:
+    warnings: list[str] = []
+
     symbols = _symbols_with_empty_quotes(quotes)
     if symbols:
         symbol_text = ", ".join(symbols)
         if provider == "ib":
             delayed_supported = _provider_supports(provider_capabilities, "delayed")
-            delayed_text = "Delayed fallback appears unavailable for this session/account." if not delayed_supported else ""
-            typer.echo(
+            delayed_text = " Delayed fallback appears unavailable for this session/account." if not delayed_supported else ""
+            msg = (
                 f"No quote data returned for {symbol_text} (bid/ask/last/volume are null). "
-                "Verify IBKR market-data permissions/subscriptions for the requested symbol. "
-                f"{delayed_text}".strip(),
-                err=True,
+                "Verify IBKR market-data permissions/subscriptions for the requested symbol."
+                f"{delayed_text}"
             )
-            return
-        typer.echo(
-            f"No quote data returned for {symbol_text} (bid/ask/last/volume are null). "
-            "Verify symbol validity and provider market-data permissions.",
-            err=True,
-        )
-        return
+        else:
+            msg = (
+                f"No quote data returned for {symbol_text} (bid/ask/last/volume are null). "
+                "Verify symbol validity and provider market-data permissions."
+            )
+        warnings.append(msg)
+        typer.echo(msg, err=True)
+        return warnings
 
     if intent == QuoteIntent.TOP_OF_BOOK.value:
         partial = _symbols_with_missing_top_of_book(quotes)
         if partial:
-            typer.echo(
-                f"Top-of-book data is incomplete for {', '.join(partial)} (bid and/or ask is null).",
-                err=True,
-            )
-            return
+            msg = f"Top-of-book data is incomplete for {', '.join(partial)} (bid and/or ask is null)."
+            warnings.append(msg)
+            typer.echo(msg, err=True)
+            return warnings
 
     if intent == QuoteIntent.BEST_EFFORT.value:
         last_only_symbols = _symbols_with_last_only(quotes)
         if last_only_symbols and provider == "ib":
-            typer.echo(
-                f"Bid/ask unavailable for {', '.join(last_only_symbols)}; showing last price from available market data.",
-                err=True,
-            )
+            msg = f"Bid/ask unavailable for {', '.join(last_only_symbols)}; showing last price from available market data."
+            warnings.append(msg)
+            typer.echo(msg, err=True)
+
+    return warnings
 
 
 def _symbols_with_missing_top_of_book(quotes: list[dict[str, object]]) -> list[str]:
diff --git a/daemon/pyproject.toml b/daemon/pyproject.toml
index 1c6b6b8..873d0a4 100644
--- a/daemon/pyproject.toml
+++ b/daemon/pyproject.toml
@@ -38,3 +38,9 @@ packages = ["src/broker_daemon"]
 [tool.pytest.ini_options]
 asyncio_mode = "auto"
 pythonpath = ["src"]
+
+[dependency-groups]
+dev = [
+    "pytest>=9.0.2",
+    "pytest-asyncio>=1.3.0",
+]
diff --git a/daemon/src/broker_daemon/providers/ib.py b/daemon/src/broker_daemon/providers/ib.py
index 720a9cf..5a7be3b 100644
--- a/daemon/src/broker_daemon/providers/ib.py
+++ b/daemon/src/broker_daemon/providers/ib.py
@@ -578,11 +578,11 @@ async def option_chain(
             ticker = (await self._ib.reqTickersAsync(contract))[0]
             market_price_attr = getattr(ticker, "marketPrice", None)
             if callable(market_price_attr):
-                underlying = _to_float_or_none(market_price_attr())
+                underlying = _to_float_or_none(market_price_attr(), reject_zero=True)
             else:
-                underlying = _to_float_or_none(market_price_attr)
+                underlying = _to_float_or_none(market_price_attr, reject_zero=True)
             if underlying is None:
-                underlying = _to_float_or_none(getattr(ticker, "last", None))
+                underlying = _to_float_or_none(getattr(ticker, "last", None), reject_zero=True)
             chain_rows = await self._ib.reqSecDefOptParamsAsync(symbol.upper(), "", contract.secType, contract.conId)
             if not chain_rows:
                 return OptionChain(symbol=symbol.upper(), underlying_price=underlying, entries=[])
@@ -891,7 +891,7 @@ async def fills(self) -> list[FillRecord]:
             self._raise_mapped_error("fills", exc)
 
 
-def _to_float_or_none(value: Any) -> float | None:
+def _to_float_or_none(value: Any, *, reject_zero: bool = False) -> float | None:
     if value is None:
         return None
     try:
@@ -906,6 +906,10 @@ def _to_float_or_none(value: Any) -> float | None:
     # IB also uses -1.0 to indicate "no data available" for prices.
     if out == -1.0:
         return None
+    # IB returns 0.0 for price fields when no data is available (e.g. off-hours).
+    # No exchange-traded instrument has a $0.00 price, so treat as sentinel.
+    if reject_zero and out == 0.0:
+        return None
     return out
 
 
@@ -942,9 +946,9 @@ def _ticker_to_quote(
     contract = getattr(ticker, "contract", None)
     quote = Quote(
         symbol=getattr(contract, "symbol", ""),
-        bid=_to_float_or_none(getattr(ticker, "bid", None)),
-        ask=_to_float_or_none(getattr(ticker, "ask", None)),
-        last=_to_float_or_none(getattr(ticker, "last", None)),
+        bid=_to_float_or_none(getattr(ticker, "bid", None), reject_zero=True),
+        ask=_to_float_or_none(getattr(ticker, "ask", None), reject_zero=True),
+        last=_to_float_or_none(getattr(ticker, "last", None), reject_zero=True),
         volume=_to_float_or_none(getattr(ticker, "volume", None)),
         timestamp=ts,
         exchange=getattr(contract, "exchange", None),
diff --git a/daemon/tests/test_daemon/test_ib_quote_fallback.py b/daemon/tests/test_daemon/test_ib_quote_fallback.py
index e1e34fb..ea86e02 100644
--- a/daemon/tests/test_daemon/test_ib_quote_fallback.py
+++ b/daemon/tests/test_daemon/test_ib_quote_fallback.py
@@ -135,6 +135,26 @@ async def test_quote_retries_with_delayed_data_when_live_snapshot_has_nan_values
     assert ib.market_data_type_calls == [3, 1]
 
 
+@pytest.mark.asyncio
+async def test_quote_retries_with_delayed_data_when_live_returns_zero_sentinel(fake_ib_module: type[_FakeIB]) -> None:
+    """IB returns last=0.0 during off-hours; should trigger delayed fallback."""
+    fake_ib_module.live_by_symbol = {"AAPL": 0.0}
+    fake_ib_module.delayed_by_symbol = {"AAPL": 185.22}
+
+    provider = IBProvider(GatewayConfig())
+    quotes = await provider.quote(["AAPL"])
+    await provider.stop()
+
+    ib = fake_ib_module.instances[-1]
+    assert quotes[0].symbol == "AAPL"
+    assert quotes[0].last == pytest.approx(185.22)
+    assert quotes[0].meta is not None
+    assert quotes[0].meta.source == "delayed"
+    assert quotes[0].meta.fallback_used is True
+    assert ib.req_tickers_calls == [("AAPL",), ("AAPL",)]
+    assert ib.market_data_type_calls == [3, 1]
+
+
 @pytest.mark.asyncio
 async def test_quote_keeps_live_data_when_available(fake_ib_module: type[_FakeIB]) -> None:
     fake_ib_module.live_by_symbol = {"AAPL": 190.01}
@@ -201,3 +221,8 @@ def test_to_float_or_none_rejects_nan_and_ib_unset_sentinel() -> None:
     assert _to_float_or_none(-1) is None
     assert _to_float_or_none(0.0) == 0.0
     assert _to_float_or_none(150.25) == 150.25
+    # reject_zero: 0.0 treated as sentinel for price fields
+    assert _to_float_or_none(0.0, reject_zero=True) is None
+    assert _to_float_or_none(0.0, reject_zero=False) == 0.0
+    assert _to_float_or_none(150.25, reject_zero=True) == 150.25
+    assert _to_float_or_none(-1.0, reject_zero=True) is None
diff --git a/daemon/uv.lock b/daemon/uv.lock
index e6fb680..6bc0c51 100644
--- a/daemon/uv.lock
+++ b/daemon/uv.lock
@@ -80,6 +80,12 @@ reauth = [
     { name = "playwright" },
 ]
 
+[package.dev-dependencies]
+dev = [
+    { name = "pytest" },
+    { name = "pytest-asyncio" },
+]
+
 [package.metadata]
 requires-dist = [
     { name = "aiosqlite", specifier = ">=0.20.0" },
@@ -95,6 +101,12 @@ requires-dist = [
 ]
 provides-extras = ["reauth", "dev"]
 
+[package.metadata.requires-dev]
+dev = [
+    { name = "pytest", specifier = ">=9.0.2" },
+    { name = "pytest-asyncio", specifier = ">=1.3.0" },
+]
+
 [[package]]
 name = "certifi"
 version = "2026.1.4"