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Thank you all for your comments. I'm familiar with the effect some of you refer to (and very elegantly explained!) - where the levered/inverse products diverge over time. But if that is reason to boost the IV of SPXU, what were "they" thinking back in 2018 when it was not more expensive? Did...

Do market makers price inverse leveraged ETF options simply by using the IV of the un-leveraged version and multiplying that IV by the leverage factor? I've assumed that was the case (here's an old discussion). But it seems that's not always true... Here is a comparison of SPXU (-3x ETF) put IV...

Do you mean to single out ETNs in particular (vs ETFs)? Yes XIV was shut down, but couldn't that have been SVXY as well?

Getting back to the initial question... I am building a spreadsheet as per your suggestion, to calculate SPXU (-3x SPX) theoretical values from SPX. I'm not getting it right. Do you mind telling me if these basic inputs are reasonable? I am first calculating the IV on the SPX chain... 1) Using...

Looking at the options quotes of the leveraged-index-ETFs (e.g. TNA/TZA, TQQQ/SQQQ, UPRO/SPXU, etc), the bid/ask spread is often huge. I'm trying to calculate where I could expect to get filled (without putting in test orders). The mid-point is sometimes a good approximation, but often is not...

Would users of such a system expect to get better prices then they could by placing an order on one of the exchanges? Or would the prices be the same or worse, with the benefit just being the ability to easily trade in size?

That's exactly what I'm worried about. Even though in my case I'm not looking to artificially manipulate the market and trade in and out. I want to buy and hold it (for months potentially), just at the 1.00 price I know folks are willing to sell it at.

I want to buy 20 contracts of a certain option (spread is .80 x 1.20). I bid 1.00 and was filled on only 10 contracts. I have no interest in this "half position", so I give up and put in an offer to sell my 10 contracts at 1.00. But my sell order sits and doesn't execute, and I am joined by...

Robert, Thank you for pointing that out. I see there's VXXB. Looks like it just started trading.

Anyone know why there would NOT be a Jan 2020 expiration for VXX? That expiration is available for other volatility names with much less volume (i.e. SVXY, UVXY). I emailed Cboe and they responded that they will not be listing it at this time. What factors do they consider when making such...

If you've got a brokerage account that passes through the exchange fees/rebates (for equities or options), let's say you end the year with a net rebate... Does that show up on the brokerage's 1099?

Oh, I misunderstood, I thought you were suggesting something specific. It's not a brokerage issue. These are directed orders (no smart routes) and the behavior is confirmed by multiple Level II displays (yes, I use them). So can anyone speculate what would cause a sitting order to be ignored...

I'm not sure what you're describing. My order makes a new best bid/offer and remains the only order at that price. So using the existing market in your screenshot, say I then enter an order to sell 10 contracts at .34 and my order sits there as the best offer (with no additional size added by...

In these situations, I am the only one at the best bid or offer. Yes, going to same exchange.

I noticed some interesting behavior with my limit orders placed on various options. Very often I place an order which is a new best bid or offer. And my order is the only order at that price. Of course I can sit for a while (minutes) without getting filled. But often if I cancel the order, and...

That was my first reaction. But this type of situation happened to me twice in the last couple of weeks - in different underlyings. And I wasn't looking for it, just sort of tripped on it. So I was wondering if there's more to it... Around 35 contracts, in and out (so qty 70 traded). Somewhat...

This may be a dumb newbie question, so apologies in advance. I "accidentally" made some money and would like to understand why. Looking at slightly ITM put options on an ETF, around 3 months to expiration... Bid/ask was 9.70/10.90, I put in an offer for 10.35 and get filled immediately. A few...