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>Hi...This info pertains to the Philly and the Amex..I don't know about the
>CBOE.... The bid -ask is changed by the specialist in most cases with the
>spread difference automatically put in by computer. This market can then be
>tightened by a customer order or market makers who want to post a market.
Do the futures exchanges have similar procedures for pricing their options?
What happens in the case of a MOC (market on close) order for an option on a
future, particularly on a thinly traded option? Do you get fillled at
whatever the pit wants to give and how does that affect the settlements of
the other options in the series?
Ted
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