Gold options

Discussion in 'Metal Futures' started by zf trader, Dec 23, 2008.

  1. As of 12:37 feb gold has bid of 835.30 and an ask of 835.5

    The Jan 830 put has an ask of 0.90

    Why is this option so cheap. The nymex website say they expire on Dec 26, and I think that means 2:30 pm when the pit closes. Also it apprears that the exhange is only closed for christmas day so there is lots of trading between now and then.

    What am I missing?