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This is NOT a proprietary trading firm. They don't trade

Gawd, what an aweful offer. If you check T&C you realize that they can bust any trading activity they don't like. Meaning if you trade against their shitty demo and win hard because you exploit it, they just kick you out and you get nothing. You're not even allowed to use an external datafeed...

Haven't checked actual prices, but ATM is usually higher than the current underlying price as options are priced on forwards, not spot. Go for the strikes that have 50 deltas

What the hell? I'd suggest you change your nick

oh boy, you have no idea what you're getting yourself into... First of all LEAPS have massive vega and volga. Since you're selling convexity you'll be in for an extremely nasty surprise once that VIX spikes, because options are still priced via supply and demand and some or more people will...

a fly is not a IV vs RV play and it doesn't make any sense to use it to profil from decay. a fly is a pure vol play, either against skew or overall vol in the particular term bucket. A bullish fly will profit when you place the short strike above market and the stock goes up while vol decreases...

Is stop triggered based on last price or on mark price?

Is that for data or also for risk checks?

guys please. what this guy is asking for is 4 digits/month minimum plus he needs a decent account size to use a prime broker that is close to the exchange he wants to trade at. Every order goes to the broker first for risk and margin checks. No retail broker has its server colocated

If I don't need the education, can you subtract that from the monthly fees so I get paid to trade with you guys?

6 posts... R U shilling, kind Sir?

Well if ticksize is so large that one tick is like 10 vol points...

Eploiting overly large ticksize in some OTMs?

Just pull out of this thread, dude. He doesn't get the difference between probabilities and expected value either. Give him a year and he'll be gone while 5 new guys will come up with the same brilliant idea

The only way to do it is not to do it. If you trade so small that a black swan doesnt matter, you might as well invest into treasuries at 1.2% p.a. Look at the article, doesnt seem like the guys were idiots, right? LTCM, Alianz, Malachite, Citadel...idiots, I don't think so. I'm sure they are...

Look, it's always the same with guys like you. Nobody here says it won't work. It will until it doesn't. You have zero experience with trading options aside from using them as a proxy for spot aka. "I'm betting that the stock won't go there at expiration" Read the link I've posted above and you...

The problem is the fact that people like OP view this kind of strategy as "income" to boost their earnings during retirement. It can work out for many years, you add more risk...because it has worked pretty well, right? Then you'll have a vol event and lose everything. Selling naked options...

@Theinkdon You're 58! I would try such a blow up strategy with pocket change when in my 20s, but not close to retirement. You WILL blow up sooner or later by selling wings but then you're like 62 without a way to earn it back

Covered calls capture the risk premium of options. You need to select stocks where the implied volatility is higher than the statistical volatility. Otherwise you just trade leveraged beta

The best thing you can do - always - is to contact the exchange you want to trade on directly. Just like in Crypto, each exchange has his own quirks and you have to figure them out first. https://www.cmegroup.com/market-data/distributor/market-data-platform.html Here is the CME. As you can...