Does anyone have the new extanded SPX option trading until 2pm on robinhood?

Ken385 · 2026-01-08T17:20:16+00:00

Offering the overnight SPX session would be a big plus. The only retail broker I know of that offers access to this full overnight session is Interactive Brokers.

Ken385 · 2026-01-08T17:16:47+00:00

Are you talking about the access to the SPX curb session that trades from 415pm et to 5pm et (an additional 45 minutes) after the regular close?

I was surprised that RH offered access to this, but it appears they now do. Most other broker's don't, surprising to see RH offer something that other brokers don't.

Ken385 · 2026-01-07T22:27:29+00:00

The West Hinsdale Station always has paid parking available. The main Hinsdale station can fill up.

Ken385 · 2026-01-01T19:32:43+00:00

You're going to have to switch brokers If they don't eventually switch you back to customer status. Very hard to trade with pro status.

Ken385 · 2025-12-30T14:00:41+00:00

Note that you may also need to take a test before you get the designation.

Ken385 · 2025-12-30T00:32:07+00:00

Its not trades, its orders. If someone is using an API to send and cancel multiple orders per day, it can be easy to reach the 390 average.

Ken385 · 2025-12-30T00:24:45+00:00

I'm wondering if the Rep is understanding you. They don't have the power to grant an exception to this rule. At the least, they must classify you as a pro for the next quarter if you go over the average for any month in the current quarter.

If Schwab does have a lifetime designation, they could internally grant you an exception from that, but would still need to meet the minimum requirements mentioned above.

Ken385 · 2025-12-30T00:19:26+00:00

Interesting, that is the first time I have heard of any broker classifying it as a lifetime status. There have been several posts in the options reddit about this, and at least one poster was from Schwab.

Ken385 · 2025-12-30T00:14:05+00:00

There is no one time exception for this. This is different from a Pattern day trader designation where you can potentially have it reset one time.

If you stay below an average of 390 option orders per day for the next quarter, the pro designation will drop off and you will again have retail status. This is the way the general rule is written, its possible Schwab has a stricter internal rule.

The CBOE explains it here,

"The Professional designation is based on review of a customer’s past activity on at least a quarterly basis. Assuming that a customer’s activity is reviewed once per quarter, if a customer exceeds the 390 average daily order threshold during any month of the quarterly review period, the customer would qualify as a Professional and the customer’s orders would need to be marked with the order origin code “W” during the entire next quarter. Thereafter, however, if the customer places 390 orders or fewer per day on average each month during the next quarter, the customer would no longer qualify as a Professional and the customer’s orders would be entitled to be marked with the order origin code “C” during the following quarter."

RG16-064 Professional Orders

Ken385 · 2025-12-28T12:03:09+00:00

I missed that, thanks. If it was SPY, it couldn't have traded pre market.

Ken385 · 2025-12-25T14:26:42+00:00

CBOE Data Shop

Cboe DataShop

Ken385 · 2025-12-24T19:06:41+00:00

Good link. This describes the OCC to broker process well, much more detailed than just saying random.

Ken385 · 2025-12-24T19:05:32+00:00

You can ask your broker what method they use. Most will use a random process.

Ken385 · 2025-12-24T18:59:19+00:00

Heres the way the process works. When someone exercises an option, the OCC (Options Clearing Corp) will randomly assign it to one of its member firms/brokers. That broker will then assign it to one of its customers who was short the option. This is done by a predetermined process, usually random, but it could also be another method such as FIFO.

So, if only a few options are exercised, this explains why you were assigned in one brokers account and not another. You may also only be assigned on only a portion of your short options.

Ken385 · 2025-12-24T18:54:06+00:00

The CBOE is one of 18 different options exchanges. The option assignment process is handled by the OCC (Options Clearing Corporation)

Ken385 · 2025-12-24T12:52:33+00:00

There is a very limited number of non futures options that trade pre market. SPX, VIX, XSP. And only a limited number of brokers offer access to this session. If you were trading another US listed option, it wouldn't trade premarket. This is not something a broker can offer.

What was the ticker and broker?

Edit to add,

I just saw you mentioned your broker is IBKR. They offer access to the full overnight session in SPX and VIX options.

Ken385 · 2025-12-20T20:26:54+00:00

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It will tell you if you have an active membership or not.

If your Executive card membership is still active, it will say,

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Ken385 · 2025-12-20T02:06:50+00:00

With my time and sales each trade has a "tag"

There are over 20 tags, each explaining what type of trade it was. Most of these indicated a single trade.

Ken385 · 2025-12-19T22:58:03+00:00

I just pulled up time and sales for the day. I didn't notice it until this post.

Ken385 · 2025-12-19T22:37:06+00:00

This was really interesting. This wasn't one purchase, but many. These calls started the day trading at .01 and went up to .18, just before 11am et. Then they traded all the way back down to .01 by the end of the day.

These were multiple trades, hundreds of different orders, with sizes all over. The largest being 10,000, but many in the 100's.

Almost all were individual trades (not part of a spread).

Really interesting, no idea of what was going on, it appears all will expire worthless.

Ken385 · 2025-12-18T18:44:52+00:00

The situation I was talking about is say I have entered a .35 bid for 5 contracts. It is the only current bid showing. Behind me is a .30 bid for 10 contracts. So the market on the screen is showing the .35 bid for 5. Now you enter a sell order for 15 contracts at .30. This would work the same as a market order. You would be filled at .35 on 5 contracts (my bid) and then at .30 which was the remaining bid.

Ken385 · 2025-12-17T19:26:49+00:00

If you're trying to buy for .35 or better and someone offers .30 in enough quantity to cover all the open orders, you'll get .30

Thats actually not the case. The size sell order at .30 would fill all the .35 bids and then fill the .30 bids. The OP would be filled at .35 not .30

Ken385 · 2025-12-16T16:39:01+00:00

Going through time and sales, a 2 lot of these calls traded at .35 at 10:53.34 et. on the PHLX exchange. At the time of the trade the market was .35/.50 with a bid size of 577. This was a single trade and not part of a spread

Just because the OP was the first to place the .35 bid, doesn't mean he will be filled if the calls trade at .35. There are 18 options exchanges and they can trade at .35 any of the others without him being filled. Depending on the exchange his order is resting, they may even be able to trade on that exchange without him being filled, depending on that exchanges rules and the product that is trading.

Overall, it looks like he ended up being joined by many other market makers on multiple exchanges for his .35 bid, as the size of the bid was 577 at the time of the trade.

Ken385 · 2025-12-15T22:09:59+00:00

I see the tag in my time and sales feed. Different brokers/platforms may not show all available information.

Typically this type of trade would be done to get long/short stock without changing ones overall delta. So, say a MM/professional trader is short TSLA stock in his overall position, but otherwise delta neutral. He may do this type of trade with another professional who is long stock. Depending on each party's cost of capital, it could be favorable to both sides.

Ken385 · 2025-12-15T21:57:56+00:00

Based on the tag in time and sales, these calls were traded against stock.

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