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Not stupid. The bid ask looks at the best from all the exchanges and ecns in the data base. The primary is the exchange where they symbol is listed. Eg GE is NYSE and AAPL is NASDAQ.

With LS Trader, you can set stops with a dollar value not a percentage. With the newest version, we have added new reference points. We now offer to set the stops through the: bid ask primary bid primary ask primary last prev close position price (Average for today) position cost basis...

What is PIP?

Our equity clients get the choice of SMART or DMA. LSPT, a smart route, is the route of choice for many to take liquidity. It is not a route that goes to NITE or Citadel. It is a white labeled route that is a combination of dark and lite and cost a flat $0.0015. It is very good at finding...

We do not have a trading desk.

Without our depth and liquidity, you would have had no one to trade with. Same today. Get rid of the option MM and options might have no paper at all anywhere close to current values.

Happy to chat anytime. Just email me.

Odd that making money on the trade is not your priority vs lowering costs.

Retail commissions were based on the value of the option or stock and were typically around 5%. Retail accounts called their broker. The broker had either a quotron or bloomberg. There might have been others like Track data. They were in cycles. Jan/Apr/JUL/Oct as one example for AAPL. Other...

Worth less than what, parity?

0 to 1.00. 1 is the same as the stock.

I guess we can call any strategy whatever we want, but without an instance of "dispersing", which requires a range of values, it make no sense. Buying vol in IBM and selling vol in the QQQ is a hedge but not a dispersion strategy. It would require a number of correlated symbols. The number...

My comment was not on the validity of the strategy. Just that I would not call it Dispersion. Dispersion requires a basket of buy/selling options vs a correlated index. E.G. buying vol in some bank stocks vs selling vol in the bank EFT because the basket is trading lower.

The idea behind Dispersion is to buy vol in the components of an index for a lower cost then you can sell the component symbol vol (or the reverse). You are looking to do the reverse with one symbol with no process to lock in a profit. It does not mean you can't make money, but OTM index puts...

Does it have to be IB? We take foreign accounts with custody at Wedbush.

We use IB for LVX clients and Wedbush for other software. https://www.lightspeed.com/trading-platforms/livevol-x/

thx

Why would a EU based client not be able to trade US listed ETFs. I have client's in many countries trading them.

Are you making this statement because of cash settlement vs stock settlement? Except for settlement, I would not agree with this statement. SPX is 10X the size of SPY with wider markets than SPY. SPX takes more skill to find liquidity.

The brokers that get allocation from the underwriter's syndicate provide allocations to customers that provide a lot of commissions dollars. Look at any syndicate from any past offering and you will see the names to contact.