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I use them successfully for hedging ES options, but previously also did for SPX options.

Great study, no matter sometimes correlations can die with no reasons. This one might work however, after hitting our Sep shorts. LOL But seriously - it might be very true. The recent trend is somewhat strange - almost no corrections, string-looking chart and awfully expensive calls while OTM...

...which, based on Contradictory Opinion Theory means the time to sell is around the corner,

Coach, I know, have traded currencies before, both CME and FX. In theory you can also daytrade S&P off pit, but we both know how it is. Lots of luck with your currency trades, this will be very inspiring if you make consistent profits there.

Risk, looks like we are thinking about the same :)

Coach, have you traded Euro/Cable before ?

Doing well Coach, can you make some comments about your experience with diagonals vs. verticals ? And diagonals - how do you determine near month/far month ratio ? Anything special or just simple "accounting" ?

No, could you tell us some more about it ?

I love this post !

Risk, it happened to me many times in the past, and I`ve heard from others about similar experience. Maybe new spread features mean new spread order system -haven`t tried yet, but as for now, I just leg in.

Correct, I can see this in my screen. it must have been added just recently. Did you try these features ?

1. IB spread order system is somewhat inefficient. I have learned from ktm that you need corresponding spread order on opposite side to get filled. Otherwise your spread order may hang on on the screen no matter bid/ask between legs is the same as your limit price. 2. No, but even if they had...

Delta 50 means that 1 point change of underlying results in change of theoretical value of option by 0.50 pts.

Coach, what fills did you get on 1200 Puts ?

Maverick, thank you for clarifying your position on ET.

Liquidity is getting progressively better and volume is picking up. Spreads are still wide, but I continuously get better fills. I don`t use them for FOTM spreads yet, but otherwise I trade them on regular basis.

Apologies, my statement was not very well balanced. Too much generalization. I`ve never had political talent.

It is very subtle. Less funny is that Taleb`s book is being promoted to read forwards.

ES naked options margin requirements are significantly lower vs. SPX/

BTW - did VIX options hedge work well ? Sorry if I missed that discussion, I was away for some time.