Weird market data on options CL FOP (LO) through IB

B

B Johnson

Now I am a newbie in the futures, FOPs markets, but I have been watching a 39.00 put on CLH16 and the bid ask spreads go from narrow (maybe .2) to very large (over 4.0, like it is now at bid 1.23 and ask 5.62... with the last at what is expected (3.43). Now is this normal? What's going on here? Am I interpreting this correctly if I said that nobody has made a trade on the exchange (other than the last at 3.43 which was hours ago)? Is liquidity in this market really this low?? What am I missing guys..?
 
It's normal for 10:50pm est. Look again tomorrow morning. Not enough players at this time of night.
 
Sometimes if you throw an order out, a much tighter bid ask will show up. It does that sometimes on ES spreads I've noticed at least.
 
Why were quotes for CLG16 still being updated today? It has expired, so is it otc trading that is causing further price fluctuations? I'm utterly baffled...
 
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