What's up with the FAS January options chain? I see a lot of fractional prices and options at very low prices. There are 23.33 calls at 1.44, but 24 calls are listed at only 0.15. 25 calls are listed at both 0.95 and 0.10. Are these normal options? Why are there fractional prices for January, and low-priced options? Can anyone fill me in?
There are two January chains. The one with fractional strikes is the standard one, while the other one is non-standard (adjusted). The 25 call @ .95 is standard. The one @ .05 is non-standard. I use thinkorswim and it conveniently lists the two chains separately so you can see exactly which one is which. I don't know how other brokers do this.