Dude This stinks bad I know how you feel I've been there myself in similiar situations and the worst part is that NOBODY will help you with this... especially IB. Please keep us posted.
the answer is no but please correct. he may not have enough money in the account to purchase google to offet his put position.
empee, I was in exactly the same situation, but trading with TradeStation, so I assume the erratic action was on the exchanges. I had PUT 370 March which traded at 4.5 early today. I had a profit target at 8 in place. When the news came and before I could cancel the offer, the option traded at 20 and above and didn't hit my offer. Finally I was able to cancel and place a new offer at 26.5 that was executed. For a period of 5-10 minutes the bid/ask and last were completely out of control. I saw execution at 32 when the offer was below 25
i got screwed w/ goog options as well ... i was trying to buy the 360 and 370 calls when goog lost 50 points ... the prem's did not adjust ... for example ..i was buying a much higher premium when the stock was at 345-340 ..when the stock bounced to 360-365, the actual premium was 30% lower!!! i lost 8k yesterday on a trade i normally would have made $10k + .. the options market in goog was the most unfair i have ever seen ... so far , my trades have stuck...
^the cboe issued that statement ystdy. if your trade will stand u should file a complain to the sec...they cant quote bogus prices and let trades stand as if everything was oky-doky. best of luck.