Check it out before its gone. Short the Jan 2013 130 SPY put at the bid side (route short to NOM) at 14.15 bid Then close quick the transaction by routing your closing order to NYSE at 13.97 Free lunch money folks. check it out.
AFAIK, the OCC will not allow any crossed market arbs to actually trade. It's been dead for going on 10 years now.
Did not trade it, it was only 2 lots Profit would have just been enough to buy lunch at a fast food place. I figured someone might want collect a free lunch
Genius statement I tell you, genius. OCC clears the trades, provides expiration/settlement data for DTC. Not once has the OCC ever dictated whether something will trade or not.