This afternoon I made the following two trades…
Sell 09/12/14 13:28:32 US 500 (Sep) >1985.0 (2PM) @ 17 Sell 09/12/14 14:09:37 US 500 (Sep) >1986.7 (3PM) @ 11
With the S&P strongly selling off, I was surprised to see strikes so far above the Nadex indicative with 30-51 minutes before expiration. What was going on today that would allow for such binary price levels? Was the it the result of the VIX crossing 14 this afternoon?