所有選擇權指南
Options execution4 minute read
Options liquidity checklist before placing an order
Use bid-ask spread, quoted size, open interest, volume, and contract terms together before sending an options order
由 Mark 撰寫 · 官方資料列於文末
直接解答
Options liquidity is not a single number. Before placing an order, review the bid-ask spread, displayed size, recent volume, open interest, strike spacing, and whether the contract has adjusted terms. These observations do not guarantee a fill, but they help show whether a quoted model value may be difficult to execute at and whether a position may be hard to close later
Start with the executable quote
Compare bid, ask, midpoint, and displayed contracts at each price. The midpoint is a calculation, not a promise of a fill. A wide spread can be a meaningful cost before the underlying moves at all
Read volume and open interest correctly
Volume measures contracts traded during a session, while open interest measures existing contracts after clearing updates. Neither tells you that a particular size will be available at your desired price, especially in a fast or event-driven market
Check contract and exit conditions
Confirm expiration, deliverable, multiplier, and the liquidity of every leg in a spread. Use a limit order to set a price boundary when appropriate, and consider whether an adverse scenario can be closed without relying on a theoretical value
資料來源與延伸閱讀
把這個概念應用到一份期權
選擇合約和目標，讓價格、時間與波幅假設在同一份分析中清晰呈現
分析我的期權