Its the same number for the futures SET and SOQ are the same.
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Spx options settlement today
- Thread starter luisHK
- Start date
Its the same number for the futures SET and SOQ are the same.
Crazy number indeed. you could have bought the ES 1885 call for 0.05 or 0.10 just before the halt. It settled at 8.30. So if you put $1000, you walk away with a cool $83,000-$166,000. The 1890 went to 3.30. Both contracts (1885 and 1890) last trade is 0.05. Someone scored huge. Heck, I may start buying the 0.05 OTM minutes before the halt from now on.
Its the same number for the futures SET and SOQ are the same.
no...it is not. ESH4 settled no higher than 1882...SPX set was 93ish. The settlement rules for the quarterly ES options are quite different than for the SPX read the product info from the CME
edit...I do take that back...looks like your right the March is showing 1893.30... the quarterlies do settle in the AM but I don't see any print that is higher than 1882 and they say its the "average" of the prints on the ES...I didn't have a position on. The weeklies are PM settled.
no...it is not. ESH4 settled no higher than 1882...SPX set was 93ish. The settlement rules for the quarterly ES options are quite different than for the SPX read the product info from the CME
Sorry Richard, you are wrong here. ESH4 settles at the same price as the SPX 1893.30 today. (these are not quarterly options, which do have a pm settlement)
http://www.cmegroup.com/trading/equ...dp500_contractSpecs_options.html#prodType=WK1
so they are settled into the SOQ....interesting...I do pretty much regularly close my short contracts on the Quarterly...the Serial don't do that so they can usually ride. any whoo in another interesting report the times the SOQ is significantly different SEEM to happen pretty rarely! (1/4 not so rare)
The SOQ was either recorded above or below the
Indexâs published daily high or low, respectively in
June 2013, September 2012, March 2010,
September 2009, March 2009, September 2008,
September 2007, March 2006, June 2005 and
December 2004 (See Table on page 2).
so they are settled into the SOQ....interesting...I do pretty much regularly close my short contracts on the Quarterly...the Serial don't do that so they can usually ride. any whoo in another interesting report the times the SOQ is significantly different SEEM to happen pretty rarely! (1/4 not so rare)
The SOQ was either recorded above or below the
Indexâs published daily high or low, respectively in
June 2013, September 2012, March 2010,
September 2009, March 2009, September 2008,
September 2007, March 2006, June 2005 and
December 2004 (See Table on page 2).
those SOB's...nothing like complicating a product...here I thought I'd read so carefully!!!...different procedures for the Weekly, Serial Monthly and Quarterly Monthly.....never ...never...never let that quarterly short go uncovered!!!!!
those SOB's...nothing like complicating a product...here I thought I'd read so carefully!!!...different procedures for the Weekly, Serial Monthly and Quarterly Monthly.....never ...never...never let that quarterly short go uncovered!!!!!
Yes, very confusing.
SPXW (Weekly) Afternoon Settlement Hybrid System (Electronic and Pit traded) many people send quotes electronically
SPXQ (Quarterly) Afternoon Settlement, Pit Traded, One "group" sends quotes into system
SPX regular. Morning settle, Pit traded, one "group" sends quotes into system.
SPXPM Afternoon Settle (no weekly's as SPXW are essentially the same thing) Electronic and Pit traded, Multiple "groups" send in quotes.
In the SPXPM, SPXW if you see a quote, you can trade instantly electronically. In the SPXQ, SPX, it may take awhile to be filled as a broker may be holding the bid or offer and another broker will have to find him.
you can trade on the mid in the SPX. The screens don't mean anything. You can trade 1000's of contracts 5 cents inside the mid if you wanted to (and remember it's an 1800 point index). The only problem with the screens is that they obfuscate the vol price a little.
Agreed that the "inside" quote is usually very tight. The problem is the fair value can be hidden. For example a quote may be 18-20 with fair value at 19, but suppose someone puts an 18.90 bid in. Fair value is still 19 but the mid point would change to 19.45. If you then paid the mid point you would be overpaying for the option.
I usually use the SPXPM's to help price these options as they are generally tighter.
Crazy number indeed. you could have bought the ES 1885 call for 0.05 or 0.10 just before the halt. It settled at 8.30. So if you put $1000, you walk away with a cool $83,000-$166,000. The 1890 went to 3.30. Both contracts (1885 and 1890) last trade is 0.05. Someone scored huge. Heck, I may start buying the 0.05 OTM minutes before the halt from now on.
They were not being offered at that price before the halt (if memory serves the ask was 11). You would have had to buy them several hours before if not yesterday.