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  1. Robert Morse

    Is it illegal to hit your own order?

    https://www.nasdaq.com/investing/glossary/p/painting-the-tape https://www.sec.gov/fast-answers/answerschurninghtm.html Painting the Tape sounds like it requires you to trade with yourself or any trade where there is no change of ownership. Churning sounds like what a broker does to a customer...
  2. Robert Morse

    Is it illegal to hit your own order?

    Yes, clearly against the rules. You may not trade with yourself or any of your accounts you are a control person on.
  3. Robert Morse

    Do options MMs see hidden spread orders?

    What asset class (Futures or Equity) and what is a hidden spread order? Where would that reside?
  4. Robert Morse

    options 101

    THis is October AAPL.
  5. Robert Morse

    options 101

    Deep in the money and near term.
  6. Robert Morse

    Eurex demo

    If you open and fund an account and set up CQG QTRader and pay for market data, CQG offers a demo login. Not free. They you can choose live or demo when you log in. Both are Realtime.
  7. Robert Morse

    options 101

    Depends on the symbol and your time frame. Too far ITM will require work on your part and have a cost to get in and out. I prefer just ITM like a 75 Delta not 100.
  8. Robert Morse

    Options Arbitrage

    Sorry, I did not flip the OTM put to sell. THis is correct,
  9. Robert Morse

    Options Arbitrage

    Sure . In his example let's use AAPL. Stock 224.25. This is long an DITM Put and DITM calls and short the worthless other options on that strike. This 50 point box is worth $50 less the cost of carry if there is no dividend and not hard to borrow.
  10. Robert Morse

    Options Arbitrage

    " If I bought a delta 1.0 Call, sold an OTM call.(bull debit vertical) At at the same buy a 1.0 delta Put. IF I just buy an ITM PUT and ITM call that both are a delta of 1, I only profit out side that range. If I then sell a higher strike call and sell a lower strike put, I have a box.
  11. Robert Morse

    Options Arbitrage

    He said buying, so it would be long not short.
  12. Robert Morse

    Options Arbitrage

    Reversal/conversions and box spreads are "non-risk" (Not always) spreads and not really a retail strategy but understanding them with put/call parity are a good learning tool to better understand option markets.
  13. Robert Morse

    Alternative to the "Walk Limit" order from other brokers?

    The midpoint is not always "fair value." I suggest you work your own order at prices that make sense for you.
  14. Robert Morse

    How do market participants use oil tankers?

    I'm sure the industry has a trade journal with data, but I do not know where to find that, If the futures market is in backwardation, there is no for storage from speculators. Floating storage levels go down and so do rates because it is worth more to just sell the inventory and unwind the...
  15. Robert Morse

    How do market participants use oil tankers?

    If you can buy Oil in the cash market,cover the storage costs and sell a futures contract at a higher price to include a proper profit, that would be once example.
  16. Robert Morse

    Teach your kids trading

    When my daughter was about 6, she said to me, daddy, can I have an allowance? I said, why do you want an allowance? She said all my friends get it. I said, what will you do with your allowance? She said, buy toys, go to movies etc. I asked what her friends get, and she said $5/week. I said, OK...
  17. Robert Morse

    CME Direct

    You need to ask them.
  18. Robert Morse

    CME Direct

    Does TD allow you to use CME Direct?
  19. Robert Morse

    How are options premiums paid out?

    You are looking at the money in the wrong manner. I sell an options for $2. When I close the position, it determines if I made or lost money. If not cash settled, at settlement, it is either converted to stock or expires worthless. If worthless, then you get to keep it. If converted to stock...
  20. Robert Morse

    How are options premiums paid out?

    The call value is placed in your margin account but the cash is not yours. The credit is held against the short call.
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