When a stock like IVGN gets hit today, how long does it take for the specialist to (create?) the new contracts for lower prices? At the CBOE site, I'm seeing contracts for the 30 strike price (no open interest or trades yet), but I'm not seeing anything under 40 from my broker.
Controlled by the OCC; at best case, if your broker subscribed to the OCC's update service, he would catch up the next day. Otherwise, call them and they probably can manually input a new strike, if they want to.
If you are interested in trading a new strike price, you would need to contact your broker's option department. They could then call the floor and tell them that a customer in interested in trading a particular month and strike. After they are given this information, it is usually the next business day when the options will be available for trade.