weird JNK Jan '13 put option prices?

[cwerdna]

Has anyone seen weird option pricing like these? Take a look at the Jan '13 puts (right side) at the $36.39, 37.39 and 40.39 level.

Has anyone seen this weirdness before and/or know of the reason why? Notice the IV of the Jan '13 options is real high (40.41%) probably as a result of this?

This is what it looked like earlier today and it still looks similar to that after the close.

[coachcr]

My screen shows 40.87 IV for the Jan. Is this an opportunity for a calendar - sell the Jan against March (11.21% IV)? Or is there another strategy to better take advantage of the situation?

[coachcr]

Looks like the ETF trades in a fairly tight range.

[Marco]

Has anyone seen weird option pricing like these? Take a look at the Jan '13 puts (right side) at the $36.39, 37.39 and 40.39 level.

Has anyone seen this weirdness before and/or know of the reason why? Notice the IV of the Jan '13 options is real high (40.41%) probably as a result of this?

This is what it looked like earlier today and it still looks similar to that after the close.

I don't use TOS so not sure what it means if the price is greyed out, but I don't think these are live prices. Try to hit the bid that you see there they should be much lower (see black prices from series above and below these strikes for an idea where it should be) I don't think you'll get a fill though. If you do sell some for me too please

[coachcr]

I tried selling some puts. TOS allowed me to place the order, then after about a minute, it cancelled my order with a message "REJECTED: Series Doesn't Exist (broken option)". I guess it was too good to be true