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  1. Robert Morse

    closing long iron conder

    Pick an opening price and what vol you expect May 24 Vol to be tomorrow morning, and I can sim the value.
  2. Robert Morse

    closing long iron conder

    Commissions will make it hard to make money on this type of spread consistently. You might this time, but if you do it ten times.... Also, you have another week to go after earnings. That means you likely can't exit at max profit tomorrow-even if you are correct.
  3. Robert Morse

    closing long iron conder

    What price would you pay for the 4 legs.
  4. Robert Morse

    Stop Loss Triggered by Delta

    I have said this before. I would NEVER, EVER use a market order or stop order with options. I have seen very bad executions. I was a floor official on the AMEX and complaints from these were common during times of stress. I was only trying to provide a process for someone that wants to cover...
  5. Robert Morse

    Interactive Brokers Prime Services

    The Lime gateway is not a retail offering. Happy to discuss it privately. We offer both hosting and VPN access for larger accounts and there are monthly commission minimums. https://www.lightspeed.com/automated-trading/#ltg_ots
  6. Robert Morse

    Interactive Brokers Prime Services

    I can't legally tell you as a statement of fact that our data feeds are faster, our executions are faster, our platforms are better, as I have no metrics to show you. There are a number of large brokers and prop firms that use Lightspeed to execute with manual or automated platforms that could...
  7. Robert Morse

    Interactive Brokers Prime Services

    That would be on the prime side, not execution.
  8. Robert Morse

    Interactive Brokers Prime Services

    You would need to: #1. Open a DVP/CMTA account with your execution broker for execution only. #2. Set up your account at IB for PRime business. #3. Choose a trading platform. You need to ask IB if they require live drop copies. Most Prime business is not that way. We are either given BP on a...
  9. Robert Morse

    Finding the best Strategy; Condors, Lizards, Butterflies

    Premium sellers tend to be larger accounts as they need PM. We no longer cater to them as the risk is not worth it. We allow selling just not to the same scale as before 2013 where it was typical to earn as much as 5% to 10% per month for the most aggressive sellers. I used to refer to this as...
  10. Robert Morse

    Free Webinar: CQG TRading Platform for Futures

    http://www.cqg.com/products Any questions I can help with about CQG-IC, QTrader, Desktop or Mobile? Bob
  11. Robert Morse

    If you buy 2000 shares for $4.50 and add on ARCA, your net cost without reg fees would be $0.50...

    If you buy 2000 shares for $4.50 and add on ARCA, your net cost without reg fees would be $0.50. If you take liquidity on our LSPT SMART route, at $0.0015/share, your total cost would be $7.50 before reg fees. Give me a call tomorrow if you want. It is not all about cost. We offer great...
  12. Robert Morse

    As for commissions, our per share rates are similar to IB but I do not make you hit the hurdles...

    As for commissions, our per share rates are similar to IB but I do not make you hit the hurdles each month. We also offer a pre-trade rate at $4.50/trade, max order size of 10,000 shares for $4.50. We do give volume discounts.
  13. Robert Morse

    Hi Ted, Our software does not have macros as I understand them. They are configurable with...

    Hi Ted, Our software does not have macros as I understand them. They are configurable with hotkeys and hot buttons but each his different. We offer Lightspeed Trader, Sterling Trader Pro, Realtick, Silexx, and LVX. Most have APIs. For those that want to create their own trading software, that...
  14. Robert Morse

    Finding the best Strategy; Condors, Lizards, Butterflies

    I know who they are. I have never watched an entire video, just a small part. I prefer not to comment on their show or their method. I will comment on the statement " the problem is that you need a high VIX and we have been stuck in the low teens far too long." Honestly, that is BS IMO. I traded...
  15. Robert Morse

    What's Holding This Market Up?

    Hot air rises.
  16. Robert Morse

    Stop Loss Triggered by Delta

    I'd say the easiest way to do this is to pick a value a little below the option strike. E.g 55 strike, use 54.75 (Just an example) and build a conditional order to cover the option if that price is touched.
  17. Robert Morse

    TWS Order Type: Pegged to ask unless dips 1% from close?

    I do not claim to be an expert on this, that is why I quoted the SEC. There might be further regs I could not find. Given that, this is what I expect? #1. I think you are but there are a number of exemptions, but I can't find the specific rule. #2. Only orders placed on a lite exchange are...
  18. Robert Morse

    Finding the best Strategy; Condors, Lizards, Butterflies

    motterpaul, I've posted this a number of times before. I doubt many believed me when I say this process is backward, that is why it does not work. You can't just want to do a spread, pick one and expect that you will make money. You are basically saying current option prices are wrong all the...
  19. Robert Morse

    Exchange with Rebates/Incentives for placing Limit Orders?

    If you are a member of the CME, they provide rebates for high volume. https://www.cmegroup.com/clearing/files/fee-summary-guide-for-proprietary-trading-firms.pdf Volume discount program. Bob
  20. Robert Morse

    TWS Order Type: Pegged to ask unless dips 1% from close?

    https://www.sec.gov/spotlight/emsac/memo-rule-611-regulation-nms.pdf A trade-through is defined as the purchase or sale of an “NMS stock” during “regular trading hours” (9:30 a.m. to 4:00 p.m. ET), either as agent or principal, at a price that is lower than a protected bid or higher than a...
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