Quote from Arnie Guitar:
Maybe that's why I wasn't filled.
actually it was the "electronic" platform that was down, The SPX is open outcry Arnie so you still could have been filled.
CBOE Down no trading
- Thread starter roncer
- Start date
actually it was the "electronic" platform that was down, The SPX is open outcry Arnie so you still could have been filled.
Quote from IV_Trader:
congrats on the profitable trade !J/K Arnie , how is your greek's knowledge going , any progress ?
Well, it would have been a profitable trade so far...
I wanted to write the 1345 Nov Puts,
and buy the 1335 Nov Puts.
At the time the spread was .35,
and that was my limit.
Then I changed the limit to .30,
still no fill...
Ah, no big deal...
Greeks?
What are those?
Arnie
I used to work at the trade desk of a moderate sized broker. When we would see our electronic orders start to back up and not deliver into the CBOE's system (known as RAES) a collective "Oh $ hit" would be yelled to each other, the next few hours would suck. Ask your broker what they do when an exchange is down. We had a back up destination for every option, so, if the CBOE went down we would modify a field in our system and all the CBOE order flow would shoot down to the ISE (if it traded on the ISE).