lol to CMG... the thing trades by appointment. PCLN moves $5 on 300 shares. AAPL's volume has dropped even more than the OI would suggest as nobody is trading minis now. They were active with shares at $650.
Add to that: GOOG WYNN LVAS BIDU Wait ! Isn't there a free internet-based scanner to determine this list ? I spent 30 minutes on google and found nothing of value !!! Most were fundamentals-based.
Exactly. Here is the REAL DEAL from professionals: http://www.cboeoptionshub.com/2014/06/16/aapl-trade-idea/ Any positive things about the split? Yes, liquidity, which was great before the split, should be better. Why? Option bid/ask spreads will be narrower and more folk will be trading options with these cheaper stock prices. Option Volatilities are a bit higher, maybe 15%, than before the split. At-the-money Implied volatilities are around 20 now and they were around 17 before the split. This is pretty normal when stocks get less expensive after a split, moderate increases in Implied Volatility usually result.
They are talking out of your ass. The spread (% of notional) is actually wider. IOW, it is not 1/7 of what it was... more like 1/4. The HV has dropped four handles since the split, and IV is down about the same. Now IV is up? They could not be more wrong.
vols were 17 went to 23 and then to 20 after the split and I covered most of my position at 18.5 yesterday. Realized Vol came in a lot after the split. I didn't notice and change in the quality of my fills. Commissions are higher but my pnl vol exceeds commissions substantially.
As I think about the split has changed the opportunity set in aapl. Not because of liquidity or commissions but I think the surface will be different.
The ATM combo is $0.20 here. The ATM combo was not $1.40 wide pre-split. Sure, you can improve on that and get close to mid. The volume is down for a reason. It now trades like a Dow component, and as such, is worthless to me. Adding in 5x the comms at a 15 figure on stat-vol isn't a help. Are you stating that you're doing better with the shares at $90 than $630? And yes, I agree the surface has gone asystole.