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OptionsCity BBO Trading App Uncovers Arbitrage Opportunities

Traders using the BBO Trading App for OptionsCity Metro are uncovering potential arbitrage opportunities between similarly listed products across multiple exchanges. The BBO Trading App was launched last year on the City Store, an app marketplace for add-on functionality to Metro, the flagship market-making platform from OptionsCity. The City Store offers a library of downloadable Apps with seamless integration with Metro so users can download apps with no disruption to their trading. 

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WTI Options Summary

WTI futures prices have been range bound in the past few weeks. Oil has slipped back to below $50 / barrel, and the options market confirms a 48% chance of remaining between $47 to $51 in the next twenty days. The largest Open Interest calls are the Dec 2016 $50, $55 and $60 strikes. On the downside, the largest Open Interest strikes are the Dec 2016 $45, $40 and $30 puts. The Open Interest volumes on those strikes are relatively balanced, with a slight downward bias in the recent buying of the $45 puts.

A large positive put skew remains in the market. Heavy buying of the 10 delta calls in Dec 2016, which equates to the $55 dollar strike, coincided with the move above $50 in the beginning of October. However, the market has since slipped back to sub-50 and it seems to want to drift in the downward direction.

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