Hanson WRENCH TAP NS 072194

I bought this tap wrench to use with an Irwin EX-1 extractor bit because the wrench says it fits size #0-1/4”. I cannot get the tool to close tighter than about 3.5-4mm or 5/32. It looks like it might close a little bit more, possibly down to 1/8” but the threads jump once you get close and lands back at roughly 3/32. But even 1/8 will not fit the bit I bought

Same comment as Dale and Mattman. The description of this item says the size range is #0 to 1/4in, but it's not true!