no options available. NILE Can this happen for limit orders.?

Discussion in 'Options' started by darwin666, Apr 18, 2009.

  1. I did not know this could happen.

    the poster on the yahoo board is saying that , there were no options available , when he put in limit orders.

    please see post below.

    Re: I need a new broker 7-Apr-09 10:51 am I use Ameritrade. They suck by the way but who wants to move accounts when you have been working the system for years. OK....Now the question.

    My option orders kept getting cancelled just like yours. I called and talked to the Chicago market. There are certain contracts available but many have been shut down because they are "oversold". I guess there is a limit to how many options can be sold in relationship to the float or the total shares...have not figured it out.

    Ameritrade told me NOTHING is available but Chicago stated some are available but it depends what market you go through. What I did was line up some options I wanted to trade and then put MARKET orders in and they went through. NOTHING went through on a limit order. They were immediately cancelled.

    Good luck.....Everybody in the world knows this is an overprice stock. But the funds have a pact not to sell and pinch the shorts to cause a short squeeze. Shorts are getting crushed here. But earnings are coming and they will be terrible. I had to laugh when the CEO said they have a chance to be profitable this year. No guidance.....just perfectly timed comments from a management team looking to dupm lenty of options into a unjustified run up of a luxury item web sight. It's just a web sight and there are plenty of them out there looking to cash in on this overpriced, high margin, squeezed demand diamond market
  2. I show options available on NILE. For example the May 40 Puts, ticker symbol JWUQH. As of Friday's close, CBOE's market for these was 2.20 to 2.50. PHLX's market was 2.20 to 2.45. If you broker isn't giving the service you want, look for a new broker.
  3. That's because it cannot happen.

    if the options are listed for trading, they trade. There is always a market - unless the underlying stock has halted trading.

    There is no limit to the number of options that can be bought or sold in total, although there are limits on how many an individual can own or be short.