Cl $50 Put

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

  1. 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
  2. MGJ


    Have you tried getting quotes on a Synthetic short put? (Long the futures, short a call with $50 strike price)
  3. 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.

  4. 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.