Cl $50 Put

Discussion in 'Commodity Futures' started by HLB, Dec 5, 2008.

  1. HLB

    HLB

    How do you sell CL $50 PUT, when there is no bid?
    Market makers only have quotes for strkies lower than $48
    RFQ doesn't work.

    Any suggestion how to close or offset this position?

    Thanks in advance
    HLB
     
    #1     Dec 5, 2008
    Share
  2. MGJ

    MGJ

    Have you tried getting quotes on a Synthetic short put? (Long the futures, short a call with $50 strike price)
     
    #2     Dec 5, 2008
    Share
  3. HLB

    HLB

    My position is synthetic straddle:

    1 QM JAN @ 50.675
    1 CL JAN 50 put @ 3.80

    now I see a bid for CL $50 put @ 8.00

    For example, I wanted to close the position, when CL was < $42
    but CL options wasn't quoted then.
    Anyway it will be good to know, how to offset my straddle outside of RTH session, in case oil will bottom then.

    Thanks
    HLB
     
    #3     Dec 5, 2008
    Share
  4. ogarbitrage

    ogarbitrage

    PM me for me aol/yahoo screen name, and I'll get you a quote. At the very least you'll know where value lies.
     
    #4     Dec 5, 2008
    Share