NYMEX WTI Jun20 -50 strike puts trade for a tick!

Discussion in 'Options' started by VolSkewTrader, Apr 28, 2020.

  1. Lowest strike available for WTI front month crude traded 15x for .01 Probably an industry first. There's 15 more offered there if anyone's interested.
  2. why not buy the 1.00 put for a bit more?
  3. The 1.00 puts are going for $8,500 apiece
  4. ZBZB


    Where are you seeing these prices. IB are not supporting negative option strikes.
  5. IB probably regrets ever offering WTI CL futures and LO options to its retail customers, after getting tagged for $88M from the negative oil price debacle last week.

    I'm on a proprietary trading platform directly connected to the CME. So I pay too much money to see some things retail can't access on the free broker sites. IB probably offers it in one of their premium services.
  6. Out of curiosity, like what? It's all listed, so I'd imagine it should be somewhat of a level playing field. Not that I would be surprised that "free" brokers are saving something on their market feeds.

    PS. I was musing yesterday that Robin Hoods effective function is the opposite of its motto - taking money from the poor (retail) to the rich (professionals)
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  7. You should be able to see anything exchange-listed on IBKR. Maybe he was looking in the wrong place. Although IB took a $88M hit on the negative front month crude futures debacle a couple weeks ago, so maybe they're purposely not allowing their clients to view or trade any front month CL futures or options.

    The Timber Hill founder is also the founder of IBKR, so they should have the best, most sophisticated free broker platform out there. Timber Hill made hundreds of millions of dollars trading a global vol book by picking off sorry floor locals like myself They gave up good "edge" in the pit, but you knew they were locking in ridiculous winners elsewhere.

    You're spot on about Robinhood. Millennials always want to take the shortcut and have the country club lifesyle without having to do any work to get there.
  8. Sig


    OK Boomer. Probably a better attitude than stealing from future generations like their grandparents, but to each their own I guess.

    BTW, I'm solidly Gen X (and you're probably Y, you just came off sounding like a Boomer) and the millennials who work for me impress the hell out of me. Heck, my kids are taking math classes junior year of high school that I took sophomore year of college..as an electrical engineer! Like every generation there are certainly lazy bums, but I just don't get how a generation who's hallmark in their 20's was smoking dope and going to concerts gets off on accusing an entire generation of laziness!

    Give these kids a break. They're working their ass off trying to survive in what is now looking to be the second major recession in their early to mid career lifetime, both entirely out of their control.
    Last edited: May 1, 2020
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  9. At least the dope I smoked in my 20'a didn't make me hallucinate or stay up all night. And I didn't stare at my phone the whole time during a concert, or try to film the entire thing with it. My Motorola flip phone could barely text or take photos.

    It's probably part jealousy and part regret on my part that I majored in Economics instead of Computer Science, since every millennial that I work with is incredibly bright and can program in any language...which seems to be the only skill (coding) that matters in our industry these days.

    I do notice they like to cut out a little early, are always looking for a higher paying gig, don't like to put up their own capital. and are always asking me what trading was like in 2008-2009. Well now they know.
  10. I believe those paying top dollar for direct market feeds get some extra goodies.

    "I'll list some of the features of some direct market feeds which aren't the same as the retail feed.

    --When 100 lot crosses the book you can see both the 100 lot and the number of passive orders it took out to fill that 100 lot. On ICE you also see the size of all those passive orders.

    --In addition to order size per level you also can see how many orders make up that total size. With ICE you can also see the size of all the constituent orders as well as the time each on was submitted and where it is in the queue

    --On ICE, everybody's order modification is individually viewable. If size changes/cancels I can identify the exact order that is active.

    --I can, by order, count all the modifications to determine if it is manual or automated." - garachen

    And when he says "retail feed" I'm certain he's including good data feeds like TT's and CQG's which you have to pay for and are quite a step up from the free stuff you get from say TD ameritrade's TOS platform and the like.

    @VolSkewTrader do you have access to those features g rach mentioned?

    I'm not sure how much those feeds cost but I'm sure they're expensive.

    "My costs for trading infrastructure, hosting, lines, software, feeds is $120,000/month. Everything seems to be getting more expensive lately." - garachen (from future.io forum circa 2013)

    Last edited: May 1, 2020
    #10     May 1, 2020
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