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Updated July 28, 2023
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January 3rd, 2013, 06:58 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
MJ888
Here we go, an example of what I am referring to britkid99: CL options are closed right now. The market price on my April 105 calls is showing 0.82037 but the last trade on the IB platform is showing 0.72 and when I check for settlement price elsewhere it is showing 0.74 so where is IB getting 0.82037 from? I have seen even wider discrepancies in the past.
Ron99, what does it the settlement show in OX for the April 105 calls?
On the options chain it shows .74.
All of my account balances right now reflect the settlement prices or the last trade if something has traded since the market reopened tonight.
OX used to pick up the settlements sometime overnight . Now they get them before the markets reopen.
Can you help answer these questions from other members on NexusFi?
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January 3rd, 2013, 07:00 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
MJ888
Yes Britkid99 I am referring to exactly the market price and market value on the account panel. And yes, you are right that sometimes the numbers can be in my favor too. Either way, it is not reflecting my true P/L, especially when the markets are closed. I too keep a cash buffer but the combination of inflated margins and wrong closing prices can distort the value of an account temporarily since the numbers usually correct themselves around midnight.
Ron99, do you have this issue with your options positions at OX? At IB, the market price of the
premium sometimes fluctuates even when the markets are closed.
No.
Do you mean the premium changes when the markets are closed on the weekends? Because a lot of option markets are open 23 hours a day during the week.
January 3rd, 2013, 07:05 PM
Houston, Texas
Posts: 165 since Sep 2012
Thanks Given: 37
Thanks Received: 150
ron99
No.
Do you mean the
premium changes when the markets are closed on the weekends? Because a lot of option markets are open 23 hours a day during the week.
No not over the weekends or holidays. But they do change when markets are open, which is fine but the premium price does not reflect the actual price. Like the example we are talking about, the April CL 105 calls, futures are a touch lower now. We all agree that settlement was 0.74 and there has been no trades in the night session but the premium in my IB account page has changed from 0.80 to 0.83, currently it is showing 0.81268
January 3rd, 2013, 07:08 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
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kronie
I am really glad there's a topic on options on futures,
this is something that I always wanted to get back around to and learn,
I'll take the time to read and catch up on this thread....
hey,
Micro E-mini futures , how do you find them in contrast to Options of Futures?
Welcome. Enjoy the reading.
I can't help you on the micros .
January 3rd, 2013, 07:09 PM
Houston, Texas
Posts: 165 since Sep 2012
Thanks Given: 37
Thanks Received: 150
I don't trade micros either. I traded ES options awhile ago but have not recently.
January 3rd, 2013, 07:13 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
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kronie
yeah, these were my sentiments too,
one basic question, do you try to avoid the Financials, given their significant
volatility ?, especially since they go towards extreme ranges within the mean / average
trading range of prices, and from an options perspective, only complex condor and straddles might possibly benefit profitably, certainly not straight forward calls or puts in anticipation of predictable or anticipate one direction price moves?
these are some of the questions and issues that drove me from equity / index option trading at the
CBOT and ASE, and towards basket trading
ETF 's and Emini futures....
Welcome.
I avoid financials because is is hard enough keeping track of fundamentals of 16 commodities that I trade. I just don't have time for more.
January 3rd, 2013, 07:20 PM
Cleveland, OH
Experience: Advanced
Platform: QST
Broker: QST, DeCarley Trading, Gain
Trading: Options on Futures
Posts: 3,081 since Jul 2011
Thanks Given: 980
Thanks Received: 5,785
MJ888
No not over the weekends or holidays. But they do change when markets are open, which is fine but the
premium price does not reflect the actual price. Like the example we are talking about, the April CL 105 calls, futures are a touch lower now. We all agree that settlement was 0.74 and there has been no trades in the night session but the premium in my IB account page has changed from 0.80 to 0.83, currently it is showing 0.81268
That's crazy. No reason for those prices.
January 3rd, 2013, 08:12 PM
Posts: 3,668 since Jul 2012
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MJ888
No not over the weekends or holidays. But they do change when markets are open, which is fine but the
premium price does not reflect the actual price. Like the example we are talking about, the April CL 105 calls, futures are a touch lower now. We all agree that settlement was 0.74 and there has been no trades in the night session but the premium in my IB account page has changed from 0.80 to 0.83, currently it is showing 0.81268
Isn't that just the current quote worst case price?
I trade futures spreads, and sometimes overnight the prices will have no quotes (or just a bid , with no ask price, or vice versa), so I see some crazy prices. Maybe that is what you are seeing in your options account.
January 3rd, 2013, 11:10 PM
NYC + NY / USA
Experience: Advanced
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 795 since Oct 2009
MJ888
I just checked the
CME prices for April CL 105 calls. High today was 0.78 Low was 0.72 and closed at 0.72 so basically it NEVER even traded at 0.82 so why does it say 0.82 on my IB account page?
this sort of problem used to be very, very common, when we traded unlisted or OTC options,
then came along the CBOE and standardization did away with these "away" quotes, where settlement prices and wildly different quotes for the same underlying occur on more than one exchange...
cavaet emptor?
caver emperor?
who knows...
January 4th, 2013, 12:08 AM
Houston, Texas
Posts: 165 since Sep 2012
Thanks Given: 37
Thanks Received: 150
Now that April CL futures are down 73 cents the price on the April CL 105 calls are showing 0.63 which is more towards where it should be.
Last Updated on July 28, 2023