I see a trade at 07:54:04 of a price at $199, which is out side of the bid-ask range ($207.41 and $207.90). Does anybody know why a trade can occur out-side this range?

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  • Probably execution of a call option? Specific price and quantity lead me to believe so.
    – windwally
    Oct 27 at 14:46
  • This trade is shown as the low in a price chart for that minute. So call option execution can also be shown in the price chart? This does not make too much sense to me. Otherwise, we would see a lot of in-the-money call option strike prices in the price chart that could make the price chart of artificial lows. Oct 27 at 15:14
  • @windwally - Exercise of an option does not get reported on the tape. As user15482691 suggested, if that was true, you'd see a huge distortion of the daily high/low range of the stock due to high delta puts and calls being exercised. As an extreme example, imagine if a TSLA covered call with a strike of $100 had been exercised. The daily range today would have been $100x$1071 instead of $1031-1071. My guess is that the oddly priced trade is just bad data. Oct 28 at 3:00

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