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intrinsic value credits are other people's money, not yours.

most people would probably use the call bull equivalent if they wanted that risk profile: +itm call / -otm call. in either case the deltas of each leg are not the same, so you won't see a dollar for dollar offset in either direction as you seem to think.

Yes, emphatically.

It was Rob Hoffman getting liquidated again by his broker. :p

This raises some questions. Will the customer have to dedicate funds to Penson side (e.g. for futures trading), as opposed to having one unified account? I don't see how two clearing firms can operate independently unless the funds are segregated.

You're just selling real or synthetic puts in perpetuity.

Sadly, politicians would use a BBA as political cover to raise taxes. Even those who are disinclined to raise taxes could hide behind a constitutional obligation to pay for all spending. That's why I feel a BBA, although sound in principle, would not work in the hands of the politicians.

Any commercial (and there are many) in which a doorbell rings loudly. Those commercials were created by people who do not own dogs.

I don't think TDA can handle portfolio margining quite yet, so those customers are still clearing Penson.

http://www.elitetrader.com/vb/showthread.php?threadid=215669 Apparently he kept adding aggressively to his losing TF (Russell futures) position, until he held more than 800 contracts. His broker (Infinity) eventually liquidated him. In the video below Hoffman claims he was adding to a...

John Carter with a 50 lot of ES 5 mins to the close: http://www.tradethemarkets.com/public/Live_Trading_on_ES.cfm Method or madness? You decide.

If they were to repeal 60/40, then futures traders would have to document the holding period for every trade? Sched D for all futures trades? O H M Y G O D :eek:

I've been reading some of Thomas Jefferson's writings. There's a great letter he wrote to James Madison in 1789 in which he talks about how "The Earth belongs to the Living." It is all about public debt and the morality of passing debt forward to the next generation. Great stuff...

Hard, if you wake up and the marks are already 5-10x against you. Why would you assume continuity of price anyway? Just because you are prepared to cover at double the premium received doesn't mean the market will offer you a chance to do so.

Way way way too much negative gamma. Yeah it works --- until it doesn't.

TOS is "free" if you don't trade. TOS is ridiculously expensive if you do.

No, emphatically. I've been with TOS since 2004 and the performance problems have been getting worse -- making short timeframe trading almost impossible. I don't use Prodigio. I have used Ninja, but not recently. I recall liking the platform. If you do decide to try TOS for daytrading, I...

I am seeing FREQUENT lag outs during ordinary, low-volume periods as well, not just fast markets. It's been a steady decline in performance at TOS for some time now. Their failure to own up to the problem is very frustrating.

Is anyone else having recurring lag issues since the update from 6/25/2011? I am having lag issues that TOS keeps insisting is on my end. I have ridiculously powerful hardware, tons of memory and a solid internet pipe. What I am seeing is smooth performance interrupted by peculiar lag...

this was a week a monkey with a bell could not have avoided making money. really, at some point you need to turn off the black boxes and simply LOOK at the market.