Well, I put in an order to "buy" 10 "Nov 15" put options (representing 1000 shares), at a price of $.50 per share, at about 11am. A little later I noticed that 5 options (not mine) had been bought, at a price of 9/16th, I think.
Someone put in an order to "sell" 50 puts (representing 5000 shares), at a price of $.50 per share. I don't know if they put it in a week ago, or at about 2:30pm, when it filled. If they put the order in as an "all or none" then the MM (or computer) would hold onto that order for 50 until there were enough buyers to make up the order.
So, after I placed my order to "buy" 10, there was either another order to "buy" 40 options or several orders making up the other 40 options, and then WAP!, the original order to "sell" 50 Nov 15 puts kicked in.
I hope that helps. I'm not to bad at the mechanics of options, I just don't have a great feeling for the valuations of options.
GO GEMS!!!
Regards, and good luck!
(In the mean time, everyone here hopes that I lose my shirt!)
Bob |
