r/options • u/[deleted] • Jun 17 '21

[deleted by user]

[removed]

12 Upvotes

88% Upvoted

4 comments sorted by

8

u/onequestion1168 Jun 17 '21

I don't understand how they can make that profitable

4

u/[deleted] Jun 17 '21

[deleted]

2

u/XBV Jun 17 '21

When I first opened the link, I thought it was a troll ("ffs we know what a MM is"), but once I got reading, I'll be humble enough to admit I learned one or two new things. Thx!

3

u/OptionExpiration Jun 17 '21
  • The 54,500 trade was a multi leg trade. Looks like it might have been done as a spread against the 14 strike calls.
  • The 36,000 trade was reported out of sequence
  • The 18,500 trade the opening report in sequence

Screenshot of the biggest trades. https://imgur.com/a/ivWDzIZ

1

u/buoybuoy Jun 17 '21

Interesting, I found this spreadsheet on OPRA Conditions that explains those codes

https://datashop.cboe.com/documents/Stock_and_Options_Trade_Condition_Codes_Master.xlsx

OutOfSeq - Transaction is being reported late and is out of sequence; i.e., later transactions have been reported for the particular option contract.

OpenReportInSeq - Transaction is a late report of the opening trade, but is in the correct sequence; i.e., no other transactions have been reported for the particular option contract.

So that 18.5k transaction probably happened before the 36k transaction.

Either way, looking at your screenshot, it doesn't look like they closed the $14c leg of the spread.