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OEC API > Market Data > Options: re. today's strike price and premium minmove changes
Author Topic: Options: re. today's strike price and premium minmove changes
(4 messages, Page 1 of 1)
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CWeber984
Posts: 226
Joined: Apr 24, 2012


Posted: Mar 17, 2014 @ 11:08 PM             Msg. 1 of 4
We noticed and appreciate the changes made in sim today for Currency prices to match their CME price specs.

There are some resulting implications for Options. Here's what I've noticed. Notes: I have not yet updated to the most current COM api (thanks for that as well, it will be very helpful). I'll put my questions at the bottom of this post.

1) The strike prices did change, but not in the way I expected. What we
get through COM api doesn't match OEC Trader Demo. For instance:
- 6A, OAUDJ4, Aussie Dollar, strike in OEC Trader is: OAUDJ4 C9100
- 6A, OAUDJ4, Aussie Dollar, strike from COM api is: OAUDJ4 C0.91

I prefer the second way;it matches the underlying symbol's prices. Don't know if it will persist in the next COM api, however.

2) The premium min moves have also changed. for example:
- 6A, OAUDJ4, Aussie Dollar, OEC Trader Demo, min move: .00005 (was .05). Documentation provided by Ross was helpful.

3) Lastly, the option premium "multiple minmoves". The new CME documentation for OAUD reads:

"$.0001 per Australian dollar increments ($10.00/contract). Also, trades may occur at $.00005 ($5.00), $.00015 ($15.00), $.00025 ($25.00), $.00035 ($35.00) and $.00045 ($45.00), when price is below five ticks of premium."

For OAUD, OEC Trader Demo is accepting .00005 for all premium values I input. The premium I choose for a LMT order can be only one tick from 0.00, or it can be at 10.00. In other words, Trader Demo no longer seems to care about "when price is below five ticks of premium", but always accepts the smaller of the min moves specified in the CME group documentation.

I recall that using the wrong increment on the min move would get the option order rejected for "invalid tick size".

Q1: Do you have changes slated for option strike symbol formatting in the COM api to match that of Trader Demo? (we'd prefer not)
Q2: Will you be restoring the "multiple minmoves" for a strike premium on a LMT option order? (we'd prefer not)
Q3: Could you speak to any further changes we should expect for Options strikes values and premium min moves?

My only real concern would be that your work on options is still a work in progress, and that I'm accounting for the changes too early.

Congrats on the nice update!

Thanks,

CHW
VictorV
Posts: 746
Joined: May 08, 2007


Posted: Mar 19, 2014 @ 09:17 PM             Msg. 2 of 4
Q1: OEC API will provide a new property in BaseContract class: StrikeDisplayFactor. The application can use it to adjust strike prices for displaying in exchange-like format.

Q2: We didn't have multiple minmoves that would depend on price of order.

Q3: I don't see any new requests to update strike prices. Our business or Customer Service will notify about such changes.

Thank you.

Victor Vins
Lead Software Developer
CWeber984
Posts: 226
Joined: Apr 24, 2012


Posted: Mar 19, 2014 @ 11:27 PM             Msg. 3 of 4
Thanks for your quick response, I know you are extremely busy during this transition period.

When I updated the COM api yesterday to current version, I did find the change to the strike symbol discussed in (1). To be clear, the new COM api's strike symbol now matches what OEC Trader Demo displays. Consistency being the goal, that's great.

StrikeDisplayFactor will give us options how how to present this symbol to our users. It's terrific you've already designed a solution for this concern.

Thanks,

CHW
VictorV
Posts: 746
Joined: May 08, 2007


Posted: Mar 21, 2014 @ 11:35 AM             Msg. 4 of 4
We have uploaded new version of OEC COM API with StrikeDisplayFactor

Victor Vins
Lead Software Developer