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I thought your point was that the 30 point spread is less risky (based on probabilities of breaching the long option). Perhaps we have a different viewpoint on risk. I've been reluctant to do larger spreads, but you've got me thinking that it might actually be less risky. I would consider...

It looks like you're betting the market is headed lower after the FED announcement, right? How did you decide on the 1245 puts?

Unless I'm missing something, I'm sure Cache is assuming that the same amount of margin is invested in each scenario. So you'll have 6 times as many positions with the 5 point spread as with the 30 point spread. To compare 10 - 5 point spreads with 10 - 30 point spreads would not be fair. To...

I called ToS a week or so back and they said that there is 24 hour trading except when the markets close, I believe it is for one or two 30 minute periods at the end or near the end of the trading day. Their commissions did look high. Maybe I can negotiate them down.

I just added futures trading to my ToS account. However, I have no intention of actually trading futures at this time. I'm going to use the "paper trading" area until I'm thoroughly convinced that I know what I'm doing and that this is something I want to trade. I'm in no hurry and at this...

I currently have June 1375/1385 and 1375/1390 bear calls. I decided to look at some additional positions further out. So I looked at the 1385/1395 and 1390/1400. I almost placed an order and then, fortunately, remembered that I had walked into this trap before. Placing either order...

I felt compelled to get out of my earlier, ill-advised, bear call. Here are the particulars: 4/18/06: Sell to Open: May SPX 1345/1355 at $0.65 credit 4/21/06 Hedge: May XSP 133/134 at $0.35 debit Today: BTC: May SPX 1345/1355 for $1.30 debit STC: May XSP 133/134 for $0.30 credit...

The desktop version really is very good. I also have an OX account. When I have to use it now it is painful. With ToS desktop it is so easy and quick to place an order; no more stupid dot symbols to find and enter in. Plus when you call in, you deal with real traders who know the business...

For retail trading, a lot of us here like ToS. We just went through this with one of the members, piccon. Try searching on his name or my name from about a week or two ago and you should be able to see where we discussed ToS. Maybe Mo will interject and provide you with a better way to...

You really think that's a good idea. Do you want to see Coach transformed from an intelligent, articulate man to a, well, you get the idea. :)

Got filled today on the following: SPX June 1375/1390 bear call at $0.80 credit.

Yes, I have found myself doing the same thing. Starting earlier and getting out before expirations.

Coach: What are you looking at for June??

If my short bear call is withing 15 points of the SPX on opex Thursday, I will usually close it out. Bull puts I've been pretty much closing out prior to expiration. I've found that if you wait until the last two hours or so of trading, it's relatively easy to get out. Of course, this...

I suspect Rally was looking at the May options whereas fris is looking at June options.

Welcome: Additional details on your position would be helpful. Do you mean a $4.70 combined credit on the IC. Also, why an uneven distance between the legs (20 on the bear call and 30 on the bull put).

I'm not disagreeing with you, but I'm not sure I understand what you mean by "half the risk". Are you saying that the same credit could have been received 5 days ago for a 1340/1345 spread (instead of 1340/1350) which puts half as much money at risk (assuming the same number of contracts).

To all who responded with links for economic calendar events/ announcements, thanks!

Yes, it is different than OX. However, yesterday when I placed my OX spread trade, I realized how much of a hassle it is to use OX. Wait till you see how easy it is to place a vertical spread. No more 5 letter option symbols preceded by a period. Just give yourself some time to get used to it.