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Large Volume Options Put
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Large Volume Options Put

  #1 (permalink)
Trading Apprentice
Sylvan Lake, Alberta
 
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Large Volume Options Put

I do a lot of research and have information of a economic collapse this fall.

I would like to buy a large number of put options on QQQ ($111) with a strike price that is very low $49.

My question is - if I were to buy say 8000 contracts, would I be able to move that volume, aka who is the couter-party to buy them when I go to sell them in the money -

aka who backs it if say I made the trade of a lifetime and will the price hold if I move an unusual volume of contracts?

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
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cnmcdee View Post
I do a lot of research and have information of a economic collapse this fall.

I would like to buy a large number of put options on QQQ ($111) with a strike price that is very low $49.

My question is - if I were to buy say 8000 contracts, would I be able to move that volume, aka who is the couter-party to buy them when I go to sell them in the money -

aka who backs it if say I made the trade of a lifetime and will the price hold if I move an unusual volume of contracts?

You should be trading one contract, not 8000.

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  #4 (permalink)
Elite Member
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cnmcdee View Post
I do a lot of research and have information of a economic collapse this fall.

I would like to buy a large number of put options on QQQ ($111) with a strike price that is very low $49.

My question is - if I were to buy say 8000 contracts, would I be able to move that volume, aka who is the couter-party to buy them when I go to sell them in the money -

aka who backs it if say I made the trade of a lifetime and will the price hold if I move an unusual volume of contracts?

The counter-party is someone. I know that sounds like a jab at your question but it really doesn't matter who the counter-party is. It could be a small retail account or a big option seller, the bottom line is that the market maker will find the other side to match your trade.

You want to make sure there is enough OI (open interest), which are orders sitting at the bid or ask showing the intent to trade. If you try and execute a 8,000 order where there is zero interest, you will either 1) get your order rejected by your broker or 2) have the orders sitting there forever as the market maker tries to find a counter-party.

As @suko mentioned in the previous post, you should not be buying 8,000 option contracts if you are not familiar with the mechanics of the options market. If anything, when you try and buy 8,000 worth of QQQ puts way out of the money, send me a PM and I'll sell some to you.

In trading, shortcuts lead to the longest path possible.

Last edited by fminus; August 19th, 2015 at 08:28 PM. Reason: typo
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  #5 (permalink)
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fminus, if you put in a market order for 8k QQQ 11/20/15 $49 puts it will get filled easy.
You would want to sell some, I would want to sell some...There is no way you would have trouble getting a market made when giving away free money like this.

cnmcdee, if you really want to do this your best bet would be to have a ton of limit orders across various expiration chains and build your position over time.

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  #6 (permalink)
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animalSpiritArb1 View Post
fminus, if you put in a market order for 8k QQQ 11/20/15 $49 puts it will get filled easy.
You would want to sell some, I would want to sell some...There is no way you would have trouble getting a market made when giving away free money like this.

cnmcdee, if you really want to do this your best bet would be to have a ton of limit orders across various expiration chains and build your position over time.

That's a good point. The order won't sit there for very long if there's free chicken to be had.

In trading, shortcuts lead to the longest path possible.
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  #7 (permalink)
Market Wizard
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cnmcdee View Post
I do a lot of research and have information of a economic collapse this fall.

I would like to buy a large number of put options on QQQ ($111) with a strike price that is very low $49.

My question is - if I were to buy say 8000 contracts, would I be able to move that volume, aka who is the couter-party to buy them when I go to sell them in the money -

aka who backs it if say I made the trade of a lifetime and will the price hold if I move an unusual volume of contracts?


Following up on this post, I wonder if you ended up making this trade, before the Mini Crash.

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