While reading about the TQQQ split coming up tomorrow, I also looked at SQQQ, which has split multiple times recently. OCC says that SQQQ options are now called SQQQ2, and the deliverable is now only 20 shares, rather than the usual 100. Looking through this further, It seems they are gimped options, with several financial sites not even recognizing them as real:
* IBKR shows these options existing, but won't let me trade them, and won't tell me the volume "Contract is not available for trading."
* E*trade doesn't recognize these exist at all
* Robinhood only let's you sell or exercise, not buy. (or so I read)
What exactly are these things? If a post split option can't be traded, how does it have value? If it can't be easily traded, wheres the volume to back them? How do I refer to these contracts since the underlying is the same, but the option name no longer matches it?
* IBKR shows these options existing, but won't let me trade them, and won't tell me the volume "Contract is not available for trading."
* E*trade doesn't recognize these exist at all
* Robinhood only let's you sell or exercise, not buy. (or so I read)
What exactly are these things? If a post split option can't be traded, how does it have value? If it can't be easily traded, wheres the volume to back them? How do I refer to these contracts since the underlying is the same, but the option name no longer matches it?
