goog mar 380 puts stuck?

BDGBDG · Feb 28, 2006

And they said electronic trading would be more effecient....

ssptrading · Feb 28, 2006

Dude

This stinks bad I know how you feel I've been there myself in similiar situations and the worst part is that NOBODY will help you with this... especially IB.

Please keep us posted.

The Kin · Feb 28, 2006

Quote from jrlvnv:

Let me know your fill... I think you will get raped though.. I saw the BID 10 points higher then the ASK. I have never seen that before

WTF?

Please keep us informed.

zdreg · Feb 28, 2006

Quote from easyrider:

Couldnt you have bought google and locked in some profit?

the answer is no but please correct. he may not have enough money in the account to purchase google to offet his put position.

Bitstream · Feb 28, 2006

there's a good prob that all options trades on goog will be busted...cboe waived firm's quotes.

OptionsWizard · Feb 28, 2006

Quote from empee:

HI, I'm on IB and I bought some goog 380 puts yesterday, now the bid/ask aren't updating and goog is tanking.

for 1 second the bid will move like 5 dollar and bid/ask are crossing (bid higher than ask) by several dollars

ie bid is $38.30 and ask is $25

Any one else having this prob?

empee,

I was in exactly the same situation, but trading with TradeStation, so I assume the erratic action was on the exchanges.
I had PUT 370 March which traded at 4.5 early today. I had a profit target at 8 in place. When the news came and before I could cancel the offer, the option traded at 20 and above and didn't hit my offer. Finally I was able to cancel and place a new offer at 26.5 that was executed.
For a period of 5-10 minutes the bid/ask and last were completely out of control. I saw execution at 32 when the offer was below 25

Samson77 · Mar 1, 2006

I have one word to describe this situation THEFT !!!!!!!!

sobemark · Mar 1, 2006

Quote from Samson77:

I have one word to describe this situation THEFT !!!!!!!!

i got screwed w/ goog options as well ...

i was trying to buy the 360 and 370 calls when goog lost 50 points ... the prem's did not adjust ... for example ..i was buying a much higher premium when the stock was at 345-340 ..when the stock bounced to 360-365, the actual premium was 30% lower!!! i lost 8k yesterday on a trade i normally would have made $10k + .. the options market in goog was the most unfair i have ever seen ... so far , my trades have stuck...

sobemark · Mar 1, 2006

Quote from Bitstream:

there's a good prob that all options trades on goog will be busted...cboe waived firm's quotes.

what do you mean ?? i hope so ..its the right thing to do , IMHO.

Bitstream · Mar 1, 2006

Quote from sobemark:

what do you mean ?? i hope so ..its the right thing to do , IMHO.

^the cboe issued that statement ystdy.

if your trade will stand u should file a complain to the sec...they cant quote bogus prices and let trades stand as if everything was oky-doky.

best of luck.