CIC Request Examples

Example 1: Sorting Legs for New CICs

• CIC request:
  • Sell 1 XYZ Aug $5 Put
  • Buy 1 XYZ Jun $15 Call
  • Sell 1 XYZ Aug $10 Put
  • Buy 1 XYZ Jun $10 Call
• Result:
  • Buy 1 XYZ Jun $10 Call
  • Buy 1 XYZ Jun $15 Call
  • Sell 1 XYZ Aug $10 Put
  • Sell 1 XYZ Aug $5 Put

Example 2:Complex Instrument Already Exists

• CIC request:
  • Buy 1 XYZ Jun $10 Call
  • Buy 2 XYZ Jun $15 Cal
• Result:
  • Acknowledgment indicates the requested complex instrument already exists and includes the Complex Instrument ID.

Example 3:Complex Instrument is Created from the Seller’s Perspective

• CIC request:
  • Sell 1 XYZ Jun $10 Call
  • Sell 2 XYZ Jun $15 Call
• Result:
  • If a complex instrument is sent to the Exchange from the seller’s perspective, the Exchange will reverse all sides of the CIC request and define the instrument from the buyer’s perspective.
  • Buy 1 XYZ Jun $10 Call
  • Buy 2 XYZ Jun $15 Call

Example 4:Sorting legs for CICs with Multiple OSI Roots

• CIC request:
  • Sell 3 VXX2 Mar $14 Put
  • Sell 1 VXX Mar $14 Put
  • Buy 3 VXX2 Jan $12 Call
  • Buy 1 VXX Jan $12 Call
• Result:
  • Buy 1 VXX Jan $12 Call
  • Buy 3 VXX2 Jan $12 Call
  • Sell 1 VXX Mar $14 Put
  • Sell 3 VXX2 Mar $14 Put