Lotto ticket FLY here with 2 days to expiration: BOT +1 BUTTERFLY NYFANG 19 OCT 18 2660/2570/2550 PUT @34.60 AMEX
It has options only....I did not notice that before until I was playing around at ToS and noticed it had options.
I am working one of the 2400/2700/2850 132 call flies for Nov. Nothing done yet. Shit's pretty wide. Bidding 115.5. Anyone want to bet against me and hit my bid? Any takers? Here's your chance! 114 mid.
I had to play around with the strikes until I got a b/a that was not a mile wide. I split the midpoint and ask which was about $3 and got filled. Not going to lie, this is not for scalping as they are starting off wide until more volume comes through I guess. That is why I jumped on the October ones with 2 days left. I figure if it moves in my direction well I can let expiration handle it without getting reamed and 3 legs b/a spread.
I am at 116.50 = on my current fly and ostensibly it's just too wide to garner any interest. The synthetic should fill at this price. WTF is Citadel and Susq?
Yeah I tried 4 different positions before I got a fill on mine. I think it will take some time. I wish we could make a market in it but there is no underlying to hedge and I am not buying a basket of FANG haha.