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minorearth

Registered: Apr 2011
Posts: 35

02-22-12 03:41 PM

Does anyone know what's up with UNG options now that it's had it's reverse split? I'm long and short some puts. TWS has them labeled a being 'basket' trades. No word back yet. Anyone, anyone?

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crew

Registered: Feb 2009
Posts: 7

02-23-12 04:12 AM

For what its worth, here's what I was told by TD: each contract that you had before the r/s is now for 25 instead of 100 shares. They said these options would be traded as "special options". I had Oct puts with a strike price of $5; for them to be in the money UNG would have to trade below $20. In additon, I had Oct calls with a strike of $6; for them to be in the money UNG would have to trade above $24. UNG closed at $22.16 today.

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trader198

Registered: Mar 2010
Posts: 1217

02-24-12 11:41 AM

I have 100 lot UNG 5 feb 24 call, bought at 0.35. my tws shows me a new smbol like ung2, I will leave it expire. since no one seems to trade it, the spread is too large, I do not want to give money to those spread sharks. convert it into UNG, it will be easy to deal with.

then next monday I will sell UNG if price favorable.

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falcon

Registered: Sep 2009
Posts: 113

02-28-12 05:06 PM

Are these options any different to the one listed on the exchange, say March puts / calls. I'm not following.

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thegazelle

Registered: Oct 2006
Posts: 664

03-04-12 12:07 AM

Special series, see attached PDF, from OCC.

ung.pdf
This has been downloaded 136 time(s).

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falcon

Registered: Sep 2009
Posts: 113

03-04-12 07:53 AM

thanks for the reply.

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