Primary Fermentation Airlock

Ok now I fell like a real jackass, I just got a 5 gallon bucket and lid from the bakery dept. at Walmart to use as a primary. The only problem was that the lid was not drilled so I could fit the airlock. I drilled it myself, but I drilled the hole a little too big. To compensate, I have placed a grommet on both sides of the lid in the hopes that it will catch the air. All of this happened yesterday and today when I open my brew closet, all I can smell is the Cider fermenting. So have I screwed the pooch on this one or should I be ok?

is the air lock bubbling?

There are bubbles but not like you would expect after 24 hours.

Pick up a drilled stopper from your LHBS. They come in all sizes. If you can't get there yet, some silicone tape can make your existing stopper/airlock stem a little thicker to get you by.

I was thinking about using wax to close the holes and keep the airlock in place, only I would have to be very careful when cleaning the lid. Any thoughts?