Massive change in Options price in the last second

gowthamn · Jun 19, 2020

For SPX options expiring June 2021, for 4200 CALL what is the close price which people are seeing with their broker? With TDA I am seeing its $20.
It was trading around $9 for the whole day and at close the mid suddenly jumped to $20.

I think this is some random fluctuation. But just wanted to confirm what others are seeing with other brokers.

guru · Jun 19, 2020

And the bid/ask chart during the last 30 minutes of trading:

gowthamn · Jun 19, 2020

guru said:
View attachment 231000

And the bid/ask chart during the last 30 minutes of trading:
View attachment 231002

Wow. With TDA the bid ask is 0.00 and 40.00. Something wrong with TDA.

guru · Jun 19, 2020

gowthamn said:
Wow. With TDA the bid ask is 0.00 and 40.00. Something wrong with TDA.

Also just checked IQFeed, and it does show bid/ask as $0/$40:

So it's possible that bids go away after market closes, while some brokers like IB may be preserving the last bid/ask available before market closes.

shatteredx · Jun 19, 2020

https://www.zerohedge.com/markets/did-someone-just-get-carried-out-sp-futures

monee · Jun 19, 2020

shatteredx said:
https://www.zerohedge.com/markets/did-someone-just-get-carried-out-sp-futures

Interesting.
Did affect the cash open?

Banjo · Jun 19, 2020

What is quadruple witching?
https://www.foxbusiness.com/markets/what-is-quadruple-witching

gammacrush · Jun 19, 2020

monee said:
Interesting.
Did affect the cash open?

No. The Special Opening Quote was 3161.26

I was short the 3150 straddle so I'm glad the SOQ has nothing to do with the last futures price.

Ayn Rand · Jun 19, 2020

This happens all the time. Towards the close the price goes wack one way or another.

This usually means no more trading today.

You can always put in a price and see what happens.

I don't like this because your position is usually marked at an interval between the high and the low. Can make it look like you have lost more than you really have.

Just how the game is played.

taowave · Jun 19, 2020

TD/TOS often has wild gyrations on their closing marks.Ive gotten used to it,but if I was out there trying to raise capital,I woukd not be so cavalier..