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i would guess those calls have value. if you exercise a put, it's like selling the call for zero. you only gain short carry, which is essentially nothing with rates here. you may even pay for short carry.

why would somebody exercise a put that is 250 points out of the money? google closed 630 ish.

the OP was about condor's and fly's. unless you are putting them on big, there is negligible greeks associated with it. or your fly is really wide, skewed, or something along those lines.

a short call and a short put isn't pairs trading. that's just selling vol on that stock. if you think the straddle is high, then sell it. just make sure you know where you want to buy it back.

if the market is wide on your in the money call and you can't afford to own the stock, your broker may exercise the call and sell the stock out for you. stock bid/ask is tighter than the call's bid/ask. if for some reason, you don't want the call to get exercised, you need to contact your...

S&P 100 (OEX): 602.49 S&P 500 (SET): 1342.21 VIX Options (VRO): 16.49 Dow Jones (DJS): 123.30 Russell 2000 (RLS): 838.20 NASDAQ 100 (NDS): 2398.87

bribes most likely. or really good lawyers.

just sell it, it pretty much only goes down. i believe the VXX uses the front two VIX futures contracts. they need to pay to roll them right now and have had to pay for a long time. that's why the price of the VXX keeps going lower in addition to vol going lower.

depends on the product? QQQQ's, sure i'll sell them. SPX, no thanks.

i hope you at least collected $10. Did you mean the 13 handle?

you must not trade options

large open interest can have an affect since that is where the long gamma people have the most gamma and theta. they are trying to scalp their gamma and can sometimes keep the range tight around a strike in a quiet market.

that's a pretty deep call. people don't have much interest in making markets on options that aren't likely to trade, so the keep them wide. also, if the underlying b/a went wide for any reason, the options markets would widen as well.

i think es options have reasonable markets at night. i've never personally looked at them, but a co-worker logs in and checks them on occasion.

I have never heard any rules regarding this for a customer. it might be an IB thing to prevent a non-market maker from trying to essentially make markets by submitting a whole bunch of orders. there would be bandwith issues with having a whole bunch of customers doing this. i would think...

the ES options have weeklies. technically they trade when the ES is open, but would be very illiquid outside of normal market hours. i have never heard of any binaries that actually trade nor are liquid.

for the OP, if you are looking the hedge a stock position with long puts, isn't your return just your net premium lost over time? wouldn't you be reducing that more if you exited your long put when you exited the position it was protecting? as a mm, my theo values are used to price options...

i can't comment about your broker. fyi, LEAPs that are 1 month away, are no long LEAPs. LEAPs are over 1year. Options with open interest don't get delisted. you can always sell a long option. i think the issue happens when you don't pay attention when you are near the strike heading...

Is there anything out there that give you the ATM vol by month for various stocks? Basically something easy to glance at rather than needing to set a curve myself.

why would they do that and make the entire industry less efficient? if i had to submit an exercise form and list every option i want exercised i'd go crazy after 2 months. it's rare to use a do not exercise notice or exercise by exception notice unless you got pinned or aren't sure of the...