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  1. Robert Morse

    After Hours algo trading

    Lack of liquidity
  2. Robert Morse

    IB mutilple exchange destinations

    We offer these on Lightspeed Trader. You can access them manually, through an API or with hot keys and hot buttons. https://www.lightspeed.com/pricing/routing-fees/ We also offer per share or per trade commissions. Who want to try a demo? Please say you heard about us from Elite Trader...
  3. Robert Morse

    What is an edge?

    An edge comes from a process you have, to place a bet on an occurrence where you have a higher probability of success than loss. For Blackjack, it is card counting. For trading, it can be anything that works consistently. Most "retail" day traders find this with some type of charting technique...
  4. Robert Morse

    Hiring a cofounder

    I’d say that is a better path as the MM route requires a lot of $$ and regulatory hurdles.
  5. Robert Morse

    Hiring a cofounder

    I'm more interested, as an X-Market Maker, in your process then participating. Are you looking to develop strategies then automated them or be a market maker?
  6. Robert Morse

    Trading international options from the US

    Sorry, I have little knowledge of international markets, access and laws. My focus in on US. I can't understand why you can't find enough opportunities here with all the symbols we have in the US markets, but it's you money.
  7. Robert Morse

    Option Price

    No, it is pricing in a range of $1.80, not 3.60. And, I have no idea where you got that probability from. You are also making this way too complicated. If you think market participants are wrong and the actual move will be more, then you should buy it. You don’t have to buy the straddle...
  8. Robert Morse

    What is a good ratio between net worth and trading account size?

    I would also strongly consider how long it would take you to replace losses with earnings from other sources. And, the risk level you take.
  9. Robert Morse

    Option Price

    If: Underlying at 266 1 day left Strike price of 266? If it is the 266 and the put is also ~ 0.90, that makes the straddle ~1.80. That means "the market" is is pricing in a range of 1.80 for one day. That is around 0.676%. You are only looking at one side, the model implies you hedge. If you buy...
  10. Robert Morse

    How do institutions buy/sell large amounts of options?

    You are correct. However, IMO, I have learned over the years that there are option order types to never, ever use. Not is any order, they include: Market on open Market on close (In fact, no market orders!!) AON FOK STOP GTC to open (GTC to close are OK) Bob
  11. Robert Morse

    How do institutions buy/sell large amounts of options?

    How would AON help. That allows others to trade around your price with no protection.
  12. Robert Morse

    Anyone in Chicago want to meet up?

    NYC anytime soon?
  13. Robert Morse

    How do institutions buy/sell large amounts of options?

    Change limits until one responds. MM are automated and look for edge. Try DMA vs SMART and choose an exchange with no fee like PHILLY. See if that help.
  14. Robert Morse

    How do institutions buy/sell large amounts of options?

    You switched from general question to specific to IB. I'm not really sure why you think a retail account with retail order flow even needs the help of a trade desk. IB had one when they owned Timber Hill. Call them and ask what the cost is and if you have access. I do not expect it is worth the...
  15. Robert Morse

    How do institutions buy/sell large amounts of options?

    Through your broker and not direct. We have a small institutional desk in Chicago that has relationships with some option market makers to source liquidity. As an institutional customer of ours, you will call our desk to enter those orders and provide instructions. Ee would charge our normal...
  16. Robert Morse

    How do institutions buy/sell large amounts of options?

    All option trades must be reported and put to the tape in a timely fashion based on the rules of those option exchanges. In the past, it required a across that made them subject to the market, but today, I expect some exchanges just let them cross it.
  17. Robert Morse

    Why is IQ'S Nasdaq Level 2 Openview so expensive ?

    Not every broker or data provider is being forced to be compliant. The SIP feeds are going after everyonw that is hosted or has an open API.
  18. Robert Morse

    Why is IQ'S Nasdaq Level 2 Openview so expensive ?

    You must have an open API so IQ is charging you a non-display fee. The other fees look like fees when you only have data to the display, Google for NYSE non-display.
  19. Robert Morse

    Why is SPX more popular the NDX for premium ?

    SPX is a 1256 contract. SPY is not. Better tax treatment if you make money. SPX is also 10X SPY.
  20. Robert Morse

    Why is SPX more popular the NDX for premium ?

    I invested in a hedge fund that was my client at my old firm, that sells puts in RUT. More volatile than both SPX and NDX. You pick the index that makes sense for your risk tolerance. Bob
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