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Ha, yes should be 2581, too late to edit original post

In my opinion SPX options (pm settled) have been underpriced very close to expiration (last 10 to 30 minutes). For example Friday the 2180 puts were trading around .20 with 10 minutes to go and the index was around 2181. This gives you tremendous leverage with very low risk. (They ended up...

In my experience most spread orders should be routed to the CBOE. I have consistently received the best fills here. They do not charge for taking liquidity. Although there are times I see a spread trading at another exchange as a favorable price, I will route to that exchange to try and join...

if I understand you correctly, these are option spreads you are entering? If that's the case, I'm guessing the spreads are being sent to different exchanges COB's (complex order books). You are more likely to filled, or be filled at better prices at different exchanges, as some will charge for...

Not true, the synthetic short will pay more for the position then he would for a non hard to borrow stock. The synthetic long will be able to take advantage of this and buy his synthetic long at a lower price. Hard to borrow stocks have higher put and lower call prices. You will often see...

And a lower price for the call you buy. Normally the combo vs stock (a conversion or reversal) is simply a function of cost of carry and dividends. In a hard to borrow stock you can buy the combo at a discount to the normal rate. Consider someone who wants to short the stock. They can...

The only real reason to do this versus buying the stock is if the stock is hard to borrow. When you do this trade you will be able to capture some of the hard to borrow benefit.

Robert Morse gave you a good summary of the rules. If you are talking just about the SPX, as you mentioned your order was in, The COB is first in first out. Market Makers cant even rest orders here, they can only react once orders appear. Straight orders are also first in first out for...

When you submit a complex order (spread) with TOS in the SPX they will route it directly to the CBOE's COB (complex order book), if it is under a certain quantity. If it is a larger order, it will be routed to a broker in the pit, and he will attempt to trade it in the pit (he will also have...

What was the option, and what was the price you paid?

Why would anyone here want to help you in any way with your attitude to our community?

You can always sell when its limit up

In response to the hack, Equifax strongly recommends getting their credit monitoring service. They will be offering a 5% discount.

@JackRab, The way I understand it is that exercise/assignment is handled by the OCC and your clearing firm (the exchanges have nothing to do with it). So under your example where you are short 100 options with a 1000 open interest and some one doesn't exercise 500, you have no way of telling...

Good points.

Bob, anytime I route to an exchange different from where the best bid/offer is I have still been filled. If I am hitting a bid or taking an offer on another exchange, I route to the CBOE with hopes they will match and I will not have to pay taking liquidity fees. I still have not encountered...

Yes

If you are a customer and hit the bid or take the offer for the amount shown, you should be filled instantly (the only exception would be the SPX if a broker is holding an order).

Have to disagree with Ahser Newcomer's tweet that it should be opened up and then the problem will be solved. He is wrong here, as it is already the case. The SPX opening that determines the Vix settlement is not restricted to exchange members and is open to all. Imbalances posted early so...

The settlement price is based on the opening price of the September monthly options in the SPX. There was large buyers of the options this morning, especially the out of the money puts, which caused them to open very high, thus marking the VIX settlement price up. You can actually see and...