I know its practically illegal to mention something that can make money here , but Im gonna do it WFT is going on with the options on delisting today. HTZ now HTZGQ Prices are insane
Stock symbol changed today, option symbol changes Monday. Todays puts were offered way under parity and options appear to only be trading on the AMEX. I tried to buy them, but since the stock is delisted and only trading OTC, apparently the options are closing only for customers. Looks like a nice opportunity for the MM's.
how the f can the puts be offered for nothing, if you can exercise ? looking for a decent explain of todays nonsense
Yes, it would have made more sense for the owners of the puts to buy the stock and exercise the puts instead of selling them under parity. I'm guessing there were problems relating the the delisting and symbol change. Some brokers will not allow trading of OTC stocks, which it became today. From reading reddit, it looks like some brokers were blocking trading in the stock as it was OTC and also blocking trading in the options, even to close, early on. Add to all that there were very few participants who could open orders to take advantage of the mispricing, e.g. MM's on the AMEX.
Yeah, when the goto place for info in this is reddit, you know yer screwed All the billionaire , master of the universe , big swinging dix on ET, and not one has a REAL clue what this was about. Funny, in realtime, expertise seems to vanish
Not sure the point of your post. Here reddit was a good source of information. People were reporting that the were blocked from buying the stock as it was OTC, depending on their broker. This helps to answer the previous posters question why someone wouldn't simply exercise to get out of their position. Add to that that the fact the options were only being traded on one exchange and opening customer orders couldn't be made, I'd say these were some plausible reasons.
Well, all that is possible, and imo criminal. Who was making the free money offered by all the suckers forced to sell puts at stupid low prices ? Someones pocket was filled, and someones was picked.