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Automatic exercise of an option is based on the 4pm et closing price of the stock on its primary exchange. This is typically done with a closing auction. Again, the price used for automatic exercise is not relevant to this strategy, as you can override this automatic exercise or exercise an...

Thats not how it works. Automatic exercise of an option is based on the 4pm closing price. Option holders have until 530pm et (or slightly earlier based on their brokers guidelines) to over ride this automatic exercise or to exercise an out of the money option. This is where the opportunity...

I used to do these plays quite a bit, but haven't in awhile. I liked the SMCI play Friday, because I thought the premium on these puts was very cheap. I didn't trade it as I had plans after the close and you need to really be on top of the trade. Here is what I would have done. Buy 10 800...

Absolutely. This is the biggest risk of this trade is not being able to get your exercise notice in.

Does anyone else here buy cheap expiring options on the close to trade the stock after hours? I was watching SMCI on Friday. It had over a 270 point range, and on the close the expiring 800 puts were offered at .30 with the stock at 803. This seemed really cheap to control the stock for...

Wow. As you said, interesting concept. Hard to see how they will make money. They do suggest tipping after a trade, which seems a bit odd. The other ways the mention don't seem to bring in much money. According to their website, under how we will make money, Optional Tipping Public offers...

I didn't realize there were any sites that offered real time options quotes. Thought you had to go through your broker or pay for the service. Thanks for the post. I wonder how they get around paying fees to the exchanges/opra. A professional could use this site as well and avoid real...

I listed in another post when it may make sense to exercise early. What you quoted and responded to was my statement that you should never exercise early if an option has extrinsic value that you could sell it for.

Closing a position earlier and exercising early are two different things. You talked about exercising early which never makes sense when there is extrinsic value in an option. There are very few situations where you would exercise early. For a call (as @taowave mentioned) Just before an ex...

It never makes sense to exercise an option early if there is any extrinsic value left in the option. If you want a stock position, you would be better off selling the option and then trading the stock (which you can do as a spread). You will end up with the same position as exercising, but will...

Interesting. I don't see any March 4th SPY options listed on any exchange. Did MIAX mistakenly list these early?

The OCC supplies this information for the non futures options (SPX, SPY, QQQ). You can see it here, OCC - Volume Query (theocc.com)

Someone posted this story a while ago describing how the scam works. Apologies to who originally posted this, don't remember who it was. A Chinese criminal network is using modern day slaves to scam thousands of Americans (cnn.com)

Shorting the new Bitcoin ETFs will cost you some money. Borrow rates currently around 50%, if you can get availability. BTCO IBIT, HODL, BRRR all about the same rate. Guessing there is limited availability as these just became available, so hopefully it will drop soon.

An expert trader will make a trade when they have a perceived edge. An ordinary trader will make a trade based on either emotion (I think this stock will go up or down) or a static system (I sell iron condors 5 days out every week).

No, the OCC does not release this information. I would say very few would have been exercised. Although SPY did trade below 468 after hours, it was above 468 for the 45 minutes preceding the 530pm OCC deadline for exercise notification, and since it closed above 468, there would be no...

These can be traded only by current holders, not by anybody else. This is not necessarily true. Although some brokers may restrict opening transactions in non standard options, there is no rule against it. I put an opening order in VIEW yesterday. This is different from options on delisted...

Not really correct. There are many different exchanges. You can be first in line on one exchange and it can trade at your price on any another exchange and you won't be filled. In the OP's example, with a 10.02 / 10.04 market, you can place a 10.03 offer in and you won't necessarily be filled...

My account at Fidelity lists the money I have in SPAXX as non margin buying power, and twice that amount as margin buying power. SPAXX is one of their sweep accounts which all uninvested cash goes in. They also list the money in SPAXX as "held in money market"

The funds are available for trading.