Bor call spreads and condors today

[arabianights]

Anyone want to explain to me exactly how trades this massive are worked out? I'm guessing there's quite a few counterparties...

 

[gooseman]

?? have to be more specific mate-what do you mean "worked out"

it was an insane session......

 

[arabianights]

arranged, even - I'm assuming it wasn't just two counterparties to the trade, so presumably a few parties need to discuss it before it goes through?

 

[gooseman]

yeah-it's just arranged trading. someone phones up with an order and places it between market makers (or does some on screen) and then blocks it on exchange.....march futures were better bid than the est on friday as a result of the delta hedge.

 

[arabianights]

well it didn't take much knowledge about the delta there to know to front run that