Refco puts worthless?

Discussion in 'Options' started by Julius, Oct 14, 2005.

  1. Check with the OCC 1888Options .. often in cases like this they elect to do have the exchanges do a closing only rotation on expiration Friday(s). That way you may get an exiting closing price without the need to exercise.
     
    #11     Oct 15, 2005
  2. Is Ned Bennett, COO of optionsXpress related to Phil Bennett of REFCO?

     
    #12     Oct 15, 2005
  3. u can use the stk cert as toilet papers.
     
    #13     Oct 15, 2005
  4. LOL, how can you have a closing rotation if the underlying stock is not trading?
     
    #14     Oct 16, 2005
  5. You use all the available nonprimary market data and establish a price. You don't have to trade there, you can still exercise. In effect you let the options market create an implied price.
     
    #15     Oct 16, 2005
  6. Good luck in finding any market maker who would make a two sided market in Refco options without the underlying trading.

    In fact, good luck in finding any market maker who would make a two sided market in ANY option without the underlying trading. Sorry, but no rational person or entity would do this because there is no way to lay off the risk.
     
    #16     Oct 16, 2005
  7. chisel

    chisel

    I'll make a two sided market in anything, but you might not like the spread. :D
     
    #17     Oct 16, 2005
  8. my guess is that a market would have to be made on the shares in order to settle outstanding obligations, even if it's 0 bid at $.05.

    a company's shares don't cease to exist simply because it's broke and tangled up in liability. the market decides the value, even if it's the Pink Sheets.

    frankly, I have no clear understanding of why the stock is still halted, except that someone somewhere with some pull wants it to be.
     
    #18     Oct 16, 2005
  9. can someone explain to me what the average time after IPO date in the last yr or last few yrs that there are listed options on it trading?

    does this have something to do with
    market cap ?

    also ... does anyone know if in RFX there were suspicious
    trades volume wise or open interest wise was there alot of put vs calls out there at any one strike ( s )
     
    #19     Oct 17, 2005
  10. Thats weird, they have an IPO and have options right off the bat. Doesnt make sense. Usually you have to wait 3-6 months before the options trade, from what I have seen. When did GOOG options start trading after the IPO?
     
    #20     Oct 17, 2005