Options trading outside of standard market open and close would be terrible. You could get hosed while you sleep. At least with the current setup, you can go to bed knowing how fucked you are.
Imagine being piss drunk trading options at 3am, passing out, and then waking up and realising you were a millionaire an hour ago but now you're broke.
Matt Levine on the MoneyStuff podcast has an interesting theory that the market would function just as well if it only opened 30 minutes a day. I love the idea of 30 minutes all the money on the line sheer mayhem!
There was one commodity futures market at the CME which opened for about 15 minutes every two weeks. It worked and helped concentrate liquidity.
A more modern method is to hold everything in pre-trade and then allow orders to be managed in the open book but with bid/offer matching disabled. Matching can then be enabled for a limited period and of course trades can now execute. At the close, the executed trades can clear and be settled.
Many markets have an opening phase allowing bids/offers to be placed to establish the initial price (sometimes referred to as the opening auction) in a public but anonymised order book. So all the bids and offers are visible but you don't know who placed them. The key point is that the bid/offer that you place may be changed before the market fully opens.
I remember EUREX doing this and I believe the CME too (they used a similar code base).
Those are baby stats. Pump them up son. We need AA motivated transactions. On steroids. As hulk. With a chair. Smashing that order fill. Gang green gang
Laughs in Finnish The US stock market is already open exactly at the times we're drunk but still sober enough to click buttons. (16:30 EET to 23:00 EET)
I know people are laughing, but man I would have killed to buy puts on Crowdstrike while dealing with their shit at 3AM. Legitimately would have made me a millionaire.
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u/karsparskambala 25d ago
I see so many alcohol motivated transactions.