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That rule was changed years ago. If a customer is offering only 1 contract and nobody else is offering any contracts at that price, only 1 contract will print and it will become a bid of 9 contracts at that price. That rule was changed because everybody would pick off the market makers.

Since Refco is trading in the $1 range, all listed call options are out of the money and all listed put options are in the money.

It appears to be trading now. 1.45 at 11.28am

I think it may be RFXCQ.

Unlikely this would happen. Remember that the banks loaned Refco a bunch of money and they could ask for repayment.

FMV is subject based on each party's inputs (i.e., volatility, dividends, interest rates, etc.) One party can say that the FMV of an option is 1.00 while another one can say that it is 3.00.

Good luck in finding any market maker who would make a two sided market in Refco options without the underlying trading. In fact, good luck in finding any market maker who would make a two sided market in ANY option without the underlying trading. Sorry, but no rational person or entity...

Refco arm expected to file for bankruptcy By David Wighton in New York, Jeremy Grant in Washington and Stephen Schurr in London Published: October 16 2005 19:43 | Last updated: October 16 2005 19:43 Refco is expected to file for bankruptcy for its unregulated capital markets business as...

LOL, how can you have a closing rotation if the underlying stock is not trading?

Refco's October Puts, Calls Carry Some Unknowns By MOHAMMED HADI DOW JONES NEWSWIRES October 15, 2005 Even if Refco Inc.'s stock remains halted, options on the stock that expire a week from Saturday can be exercised. But it won't happen automatically, as it usually does, and...

The owner of the put would exercise them before expiration.

CME Statement on Refco, LLC and CME Financial Safeguards System CHICAGO, Oct. 13 /PRNewswire-FirstCall/ -- Chicago Mercantile Exchange Inc. (CME) provides a marketplace where futures and options on futures contracts are traded. The CME Clearing House clears, settles and guarantees all...

1994 Fine Back in 1994, Refco was fined $1.25 million for dipping into customer accounts to pay loans. Refco borrowed as much as $123 million from the funds on an ``almost daily basis,'' the Commodity Futures Trading Commission, which regulates the futures industry, said at the time...

I am not saying that this stuff is happening, but since there were so many shenanigans occuring at Refco, there is always a possibility that free credit balances from the segregated accounts were/are being used to fund other businesses in the Refco empire. I am sure that the CFTC and SEC will...

Try this: http://www.sipc.org/

Random thoughts (in my opinion, of course) .... Published reports suggest that Bennett repaid the $430 million loan via a margin loan against his RFX stock. Looking at the prospectus, it appears as though Bennett had 28,529,522 shares (this does not include stock in a trust). As RFX...

REFCO 9.000 08/01/12 '08 bonds are trading at 34 cents on the dollar.

Refco Loses Clients, Trade-Account Cash After Chief's Arrest Oct. 13 (Bloomberg) -- Refco Inc. customers are switching to other brokers and pulling money from their trading accounts following the arrest of suspended Chief Executive Officer Phillip Bennett on fraud charges. Jerome Israelov...

RFX halted (again) for news pending. 9:34 am 10/13/2005.

Makes you also wonder who was doing the due dillegence for Thomas H. Lee. Top notch private equity firms should not seen this.......