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When you put this position on, did you leg it, or offer it as a box? Depending on how you put it on, you may have given up more edge then you think. The best way to tell where this box is going for is looking at the at the money combo, (which as atticus said is going for about 2 over the...

ES options still pit traded (during the day) along with SPX options

As others have said, the cutoff time for contrary exercise advice to the OCC is 5:30est. Brokers generally have an earlier time limit. After hours trading is very important.

I will make this very simple. There is NO chance, NONE, that you as a customer can arb call and put butterflies in the SPX or VIX. Last prices are meaningless in discovering where the butterflies will trade.

What are using to compare prices? The SPX can have wide quotes, so you may have a problem finding the correct prices to compare. For the SPX and the VIX, there is no difference in the theoretical price of the butterflies in calls vs. puts of the same strike (if you go far enough out and wide...

If this is true it would be a great disadvantage. Orders entered into the CBOE COB are filled FIFO. For example many times I may see a spread trading in size, I will put a bid in the COB at a lower price, know if the seller comes down, I will be filled first, even over the market makers. It...

Silexx, Last time I demo'd Obsidian (about a year ago) I liked it. The main problem for me was not being able to see the exchanges spread books. Are you able to see them now?

I mainly use WEX, which is great for spreads. You can see the exchanges spread books, and populate a spread ticket just by clicking on the spread in the book. You can direct which exchange you want it to go to. Also very easy to enter other spreads as well. They also have a good cross...

Not sure what you mean here. In the OEX, expiration day assignments are automatic as it is cash settled. ALL in the money options will be exercised and NO out of the moneys will.

The OEX is really a unique animal. Not traded much these days, but if you are short options, it can be very risky. Lets say you are long a 660 call. The index closes at 3:00ct at 680. During the day your call may trade with a small premium over the index value. At 3:00 it is always worth...

Equity call options will be exercised early generally just before the stock goes ex dividend. This "should" happen when the corresponding put (same strike as the call) is less then the price of the dividend, as you are essentially selling the put when you exercise the call. Deeper in the...

I believe they mean trades that are entered prior to opening to get the opening print. For example if there is one large order to sell out of the money puts at .05 and there are a lot of customers and market makers trying to buy them, the trades would be broken up pro-rata.

If you were .60 bid for an option in the SPX, others could trade at that price if your order is held by a broker. You would have no entitlement to any fills. If your customer order was placed in the electronic book, no market maker "should' be able to trade the option at that price until your...

Glad it worked out Arnie. I was selling the 1495 calls as well yesterday, as the did appear a bit high. I bought the 1490 and 1500 calls against them and turned it into a butterfly for .10. No joy this morning so I am out a dime. Don't underestimate how much the SPX can move on a markup or...

On traditional expiration days, (the third Friday of every month) the SPX weeklies are not traded and you are stuck with the regular SPX options which expire Friday Morning (the weeklies expire Friday Afternoon) They do offer the SPXPM's which will expire on Friday afternoon just like the SPX...

The key to whether you will be assigned is where the same strike puts are trading just before SPY goes ex. When someone exercises their calls for a dividend they are essentially selling the puts for the dividend amount, less cost of carry. If they can buy the put for less then the dividend and...

The CBOE displays the COBB on its web site, http://www.cboe.com/cob/cob.aspx If you are sending an order into one of their proprietary products (such as the SPX, OEX, VIX) it will be easy to tell if it made it to the COBB as you will actually see it. I know each broker is different on how...

It would be eligible to go into the COBB, whether it goes there or not is up to your broker. Each broker has different criteria for sending an order to the COBB or letting their floor broker hold the trade.

If you are asking how many contracts of a particular series are actually exercised, that information is not released by the OCC (except for OEX options)

So, gave it a try today. VXX closes at 34.74. At 3.13ct VXX is trading at 24.58 (technically after hours). I sold 10 of the expiring 34.50 puts for .05 (so they were .24 out of the money based on the mark). At 3.20ct VXX was trading at 34.45(after hours). Am curious how many if any puts...