Hi! I have a very basic option question. When a broker quotes some options, it has the following format: May 65/70 C/s, 1.3 offer bsxx 62.75 So I have the first bit, (may call spread 65 vs 70 strike, offer is at 1.3 - but I don't get the last bit (bsxx 62.75).
I guess bsxx stands for basis cross but I don't get why it is important for the pricing of that option structure?
Where the future/underlying is trading on these I'd imagine.
Thanks for the input. But why adding it? What is the purpose (if it was delta hedge I would understand, but why a full month??)
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