Quote from arbs-r-us:
Mav, he didn't buy any flies. None. He was iceberg bidding all three strikes showing 100. Just kept jamming 500 and 1k orders in, all instantly filled. Not saying paying 25c is unreasonable, but it's not what happened.
My info said the trade was crossed and printed later. No such trade executed on the exchange. Customer bought the fly OTC and crossed it.
Largest single print today was by a customer who do did the Jan 65/105 conversion for an .80 credit 1500 times.