For a while now, a LOT of strange CBoe sales have been going through. Little pip trades all day, but add up at end of each session. As well, a fairly sizeable cross trade programme with mid point sells outside of the bid/ offer spreads. ie bid 47 ask 47.5 but sales at 47.2c. [CXA's and then CXXT's.]
On your information and that provided by brokers, the cost of each trade through is literally microscopic, so is avery profitable modus operandi indeed.
With a large enough interactive broker account, liquidity can be added or taken from market, and each buy/sell can be bought sold at profit, with minimal pips on the upside. [no idea on shorts, but it is available, however seems little activity.] Seems the liquidity feeds are halted at 3.30 pm every Friday, which shows that bit of a rush into the weekend by the actual retail bids and asks, perhaps.
So far, this is only MY theory of how they do it, with MY VERY LIMITED understanding of the products on offer to larger institutions ,or soph's, et al. Could be WAAYYY off the mark however...
Regardless, it is interesting to see how this pans out.
Cheers for your post.
MLX Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
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