goog mar 380 puts stuck?

Discussion in 'Options' started by empee, Feb 28, 2006.

  1. empee


    HI, I'm on IB and I bought some goog 380 puts yesterday, now the bid/ask aren't updating and goog is tanking.

    for 1 second the bid will move like 5 dollar and bid/ask are crossing (bid higher than ask) by several dollars

    ie bid is $38.30 and ask is $25

    Any one else having this prob?
  2. empee


    omg now the bid is $9 and the ask is $38

  3. empee


    this is ridiculous i wanted to sell these at 340 but couldnt get a decent quote still trying to ge tout
  4. empee


    ok now I got a market order in and still no fills this is fun
  5. jrlvnv


    Let me know your fill... I think you will get raped though.. I saw the BID 10 points higher then the ASK. I have never seen that before
  6. empee


    its stuck I'm calling IB, very nice that I cant get out when vols are thru the roof
  7. empee


    called IB, "they cant give an out" so they cant tell me if I'm filled or not, so they cant advise me what to do.

    If I sell now and i get filled I will be short, if I don't then I get whatever.

    I guess I'll sit and wait.

    Right now, its at the discrention of CBOE, meaning if it goes in the money higher than I got filled and if it retracted I wasn't filled.

    Nice, btw this was a market order.

    What is the purpose of trading options again? WTF! So frustrating. Btw, this call took place at 10:53 AM EST and they're saying its still too volatile.

  8. You may be awarded an out based on estimated bid/offer at the time you placed your market order.

    It would help if you had a record of the bid/ask at the time you placed the order.

    I had a similar experience with Doubleclick options a few years ago and had to "remind" them of their obligation to provide an orderly market. The result was not great.

    Good luck

  9. Couldnt you have bought google and locked in some profit?
  10. empee


    i can't hedge because I don't know if my market order is filled or not; IB says that the CBOE floor is crazy and they can't get an update/give me an "out" (meaning they either fill or kill it) so I'm just hanging out and waiting, I'd rather get out at a worse price than hedge and find out I'm long/short after it moves.

    The reason I wanted to get out was the vols were very very high
    #10     Feb 28, 2006