Search results

Was that Fossett?

First Options was owned by Continental Bank. The story I thought you may have been talking about was when a trader in 1987 (who cleared First Options, something Lee?) sold a boat load of puts in the OEX and almost took them both out.

Is this where First Op was almost knocked out?

Some brokers (Interactive Brokers) will list the last trading day. So even though they expire Sept 15 AM, Sept 14th is listed (as this is the last day to trade) This has caused a lot of confusion with some traders on IB.

Thats the problem with SPX options. Its harder to sell this order flow. Since SPX options are single listed, there aren't the same opportunities to profit with the order flow.

Free commissions are tough for SPX options. The CBOE adds a substantial exchange fee and these orders don't bring the same amount in payment for order flow. Because of this the traditional free brokers either don't offer SPX (such as Robinhood) or will pass on the exchange fees even though...

Yes, lots of issues. They are talking about it on Reddit. We are aware that customers are experiencing issues with Fidelity.com, Active Trader Pro (ATP), and our mobile apps. We are working urgently on a resolution. We apologize for the inconvenience and appreciate you being a customer. ...

Is that an extra data package, Bob?

The problem with standard options is they are multiple listed. So, if you send a spread to the COB in say MSFT, the best bid/offers on all legs will have to be listed on the exchange the spread was sent to for the spread to auto fill if a MM doesn't want it. It is very unlikely that the best...

What's nice about the SPX, is when a spread is sent to the COB, even if the market makers aren't interested in the spread, if it can be filled based on taking/hitting the quoted offers/bids on the individual legs, the COB will fill the order by auto executing against those quoted legs. This can...

Consistent profits will be made trading with edge, not with any specific strategies. Finding that edge is the tough part, but it is possible.

Interactive Brokers is the only retail broker that I know of that allows full access to this overnight session and also the curb session just after the regular closing time. Generally, the fills/markets aren't too bad in the front dated options.

Thats the issue. I don't want to be filled on the Bats here and remove liquidity (and be charged). If the .50 offer is soley on the BATS, I would prefer to be filled on an exchange that doesn't charge for removing liquidity. Thats why I route to the CBOE. The CBOE may match and fill me there at...

What the heck does that mean? If a stock is not in the penny program, options can't be quoted in pennies. You won't generally be able to enter a single option order in a penny increment, but you can enter a spread in a penny increment.

I'm not an expert here, I am just stating what I see in time and sales. I will see only 1 trade printed on the away exchange. I will not see any trade printed at the exchange the order was directed to.

I don't think the last part of this concerning the final print on the original exchange is necessarily true. Quite often I will want to take an offer or sell a bid where the bid/offer is resting at a certain exchange. I would prefer not to have it filled there due to taking liquidity charges...

They are one of the highest paying exchanges for supplying liquidity. In a non penny stock they will pay .85 in a rebate. If you are with a broker that passes these rebates along, it may be worth trading here.

If you want to close the option and sell another one, you are far better off doing it as a spread. Set up the spread to buy your short call and sell the new call. When you send an order as a spread, it will generally be sent to an exchanges COB (complex order book) Here it will be looked at...

Options over 3.00 in most stocks can't be quoted in nickels. It appears instead of rejecting your order they adjusted it to the next allowed price.

I can't answer that. If you contact the OCC, I would think they could answer. I have found them to be a great resource and they will respond promptly. OCC - Contact and Feedback (theocc.com)