Bizarre trading prices

Discussion in 'Trading' started by TrendSailor, Jan 11, 2007.

  1. I have seen some weird things in the market but at the start of today's open I checked my trading positions to find the following weirdness in one of my option positions that just about made me have a heart attack.

    UCEAI CALL VERIZON 100 VZ + 5 IAR JAN 45 (LEAP 2009) (Margin)

    Last [Tick] 47.40[ + ]
    Change 45.55
    [% Change 2,462.16%

    Bid 1.90
    Bid Size 10
    Ask 2.00
    Ask Size 10
    Open 47.40
    Volume 10
    Day High 47.40
    Day Low 47.40
    Previous Close 1.85
    Prev. Close Date 01/08/2007

    Since I am short 4 contracts on this option that puts me in the hole by $18,960.00 for a -3,430.86% LOSS!

    Obviously its a weird trading hiccup though since VZ is NOT trading anywhere near levels to justify this price and some idiot pulled the trigger on a trading mistake and set the price high at a huge loss and to scare the cocka out of us...

    Whew, that can soil one's britches before I have had my coffee...