Cl $50 Put

H

HLB

How do you sell CL $50 PUT, when there is no bid?
Market makers only have quotes for strkies lower than $48
RFQ doesn't work.

Any suggestion how to close or offset this position?

Thanks in advance
HLB
 
Have you tried getting quotes on a Synthetic short put? (Long the futures, short a call with $50 strike price)
 
My position is synthetic straddle:

1 QM JAN @ 50.675
1 CL JAN 50 put @ 3.80

now I see a bid for CL $50 put @ 8.00

For example, I wanted to close the position, when CL was < $42
but CL options wasn't quoted then.
Anyway it will be good to know, how to offset my straddle outside of RTH session, in case oil will bottom then.

Thanks
HLB
 
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