He wanted to name it Lemon, and showed it to his wifie, who overruled him. "No, honey. No. Not 'Lemon'......."
He is also a veritable nutcase, a colander shy of a crazy person. To be honest, it's incredible how crazy and brilliant he is at the same time. On the topic - institutional investors would, in most cases, call up a dealer desk. Usually anything large would get quoted with a tie (i.e. with a delta exchange) and printed on the exchange a some point after the trader. These days a lot of people want to execute their own delta so they cross the stock too - it also frequently allows them to mask the level at which the trade was done.
I assume these orders can go unfilled or not fully filled all the time? Just because I want to sell 100K calls on Tesla that doesn't mean there is a buyer for it not even at a bad price.
I very never had that happen. On many occasions, I've written far more than the oi in a given series, both equity options and future s options, by selling at a sligjlty lower vol and vice versa. I've found I can pretty much operate on the notion that there is unlimited size in any option provided it's not trading down in a few Pips if I'm willing to give something up and it's usually not a lot that I have to give up to do it. As for Robert Morris, in addition to appreciating his posts, as I have accounts at Lightspeed as well, I find them to be a top-notch firm. Especially when the shtf, when big-name other Prime Brokers have fallen dow on me in the middle of the night, stood away, Lightspeed stood up, helped me through some tough trading moments - they have some very top notch people there. I wish hey had a more sizable custodian on their end that's my only concern and it's not a concern of mine but rather of the clients. But like I said, I want to deal with people who I know will handle things in the foxhole, people who will be there, like on the morning of October 20th, 1987 or February 6th, 2018, and these are the kind of people I want to be in the foxhole with, the kind of people I have found at Lightspeed.
Yes, and I beg your pardon on that - my eyesight is so bad I have gotten lazy and use speech-to-text and it struggles with many proper nouns.
Oh that's not a function of the executing broker, but rather that when the SHTF I watched prime brokers that you thought would be able to handle the heat and couldn't, when in fact, Lightspeed did. Amazing how those 5-sigma days separate wheat from chaff.
So those dealers or MM's are not available to take the other side of an order from a retail trader because they are more exclusive and not on an exchange I guess? Cuz when I send an option order for a 100 in IB, I see it gets split into ten thousand partial fills with some of the fills for like 5 contracts from the exchanges. And it takes forever for it to get filled. If the smallest contract size those MM's can fill is 100, my option order should've been filled with ONE fill. So how do I get access to those MM's?