I have picked up Florida Gators Men's Champion @ .08 cents.
This is a partial position and I can strike again if the market once me to.
Here's what happened...
Spread on Florida Gators to win it all was Buy .09 cents X Sell .07 cents. The Sell means you can buy the "No" option at the click of the button for .93 cents, but pay the commission. If you want Florida, you buy it for .09 cents, plus commission.
I put a limit order in at .08 cents, I'm not buying it long from whoever is selling it at .09, instead I moved the Sell side to .08 cents, or a .92 instead of .93 price for the buyer of "NO".
See what I did there? If someone wants "NO" right now, I'm out there selling it to them for .92 cents. Come get some.
Contracts have filled and now have one of the accounts sitting on the Buy Yes for Florida at .08 cents in the order book. That Buy NO of .92 cents is me on the ASK right now, with a few hundred contracts, holding the spot, willing to pay .08 cents for Florida to win it all.
I thought I'd keep that there to show the example.
I am also on the Buy Yes .07 cent level, with many of the original orders when this venture began, in case we do get a sweep downward.
But I wanted to land some at .08 cents anyway and get this future position going.
