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Nice story!

What you want doesn't exist. Since you have a cash account and can't afford being assigned on your long calls, you will need to sell them before expiration.

This was the OEX pit in the 1990's. I'm in the middle. The pit now has two people in it.

Simply put, bad prices. They could be stale, not real time, etc. This does not happen in real life and you will not get this opportunity to trade the options at these prices.

Great calls Vanzandt. I believe you got the top and bottom perfectly. Even if you didn't know the direction SNAP was going like Vanzandt, just buying the straddle was a nice winner. Just amazed how cheap they priced the options on this one.

You are overly concerned with the prices of the individual legs, which are meaningless. When your broker sends your spread to an exchange it will go into its COB, complex order book. This is basically the exchanges mechanism for pricing and executing spreads (as opposed to individual orders)...

Its as though you didn't even read the explanations given to you. I gave you a detailed description of what happened.

The advantage of putting an order in the COB is that less edge is required to fill that order then if you leg each part individually. If you are doing an Iron Condor in the SPX for example, the market may be only .10 wide in the COB. Compare that with how much edge you have to give up if you...

Apparently they can, as I see it every day. They just don't trade through their own exchanges prices.

So, as others have said the only thing that is important is the total price, don't worry about the individual legs. Here is what happens, The NBBO market on an individual leg may be 2-2.10, but the spread is sent to and exchange such as the BOX that has very wide markets. The BOX market on...

Hi Ids, I was curious about this as well. You say you won't make auto liquidations that increase maintenance margin, but what about those that don't, in reference to non standard trading hours. For example if I have a portfolio margin account where I am short SPX options and long SPY options...

Bob, do you know of a way to find the actual number of contracts exercised for particular stock/strike? I remember the CBOE used to publish it for OEX options, but I haven't been able to find this information for other stocks.

Well, everyone on this board seemed to call this one. Straddle went from 1.40 to over 4. Puts were even a bigger winner.

Consider also http://www.bluetradingsystems.com/ and http://www.optionscity.com/

True, but the OP said there was no dividend here so his assignment was assumed to be because the stock was hard to borrow.

No you are wrong on both of these statements. You may be getting confused on what time value is. If you are getting assigned on the calls because the stock is hard to borrow, the market is saying there is no value over parity on your calls. There is no time premium. They are trading at...

So if you are assigned on the calls, there is going to be no time value left. If you re-sell them you won't be able to sell them with any time value at all (if they are indeed going to be assigned) so you won't make any money when assigned again. The new synthetic position you would put on as...

Since there are no dividends your risk in being assigned is if the stock is hard to borrow. In this case you would not want to simply resell your calls (and buy in the short stock you would have as a result of being assigned) as you would continue to be assigned. In this case you would do the...

First, what is the reason you prefer the option synthetic rather than just being short the stock? Second to answer your question, if you are being assigned on your short call, it is most likely because of a dividend or because the stock is hard to borrow. If it is because of a dividend, you...

if you are long a call and short the same strike put, there should be no vega risk, this is the same as being long or short the underlying.