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You might want to check out the following "chats" from TOS: http://www.thinkorswim.com/tos/displayPage.tos?webpage=onlineSeminar

It may be a matter of decimal places. A delta of 30 is shown in TOS as 300.00. But you should be able to eyeball it. A delta of 50 is ATM while a delta of 7 is several strikes OTM.

"Actually the Box, the ISE and the CBOE can all price improve but this is only for single options and not for spreads. If you direct your order to an exchange it is no longer eligible for price improvement. If you are referring to spreads the reason that we route a lot of your orders to the...

Fire your broker and go to optionxpress or TOS. They only charge for one leg.

You might want to listen to Dan Sheridan over at cboe.com -- look in the webcast archives on Income Generation series of lectures. I suggest you investigate diagonals and calendar spreads as an alternative to verticals. Finally, there is another journal thread dedicated to verticals, SPX...

Dumb question -- what is EW? Edwards Lifesciences??

Can someone tell me about BOX? I understand there are some unusual features on this exchange.

Report on COST sep/oct 65 put: Yesterday I felt somewhat uncomfortable when I put it on, more gamma risk than I would like to see, but it was near support and I justified that it was balancing my sp put diagonal. COST dumpted down and loss of 15 cents, below my normal 10 stop. I...

Does your strategies include reverse calendars?

You find one market and watch -- every 30 min or hour as you are able. One day you see the market moving down, and have a pretty good idea where it will stop. You are able to form a mental picture of where it will go the next day. It becomes heavy, it becomes excited and vigorious. You...

If you see a thread with over a thousand posts......

Makes sense if the probability on your side. Probability, both gamma but also vega. Gamma -- range bound market, vega -- low end of volatility. This is all pretty obvious but should be explicitly included in R/R. In my trading, perhaps it's a mistake, but I have been focusing on the...

vol analysis == you can click on the wrench at the bottom of the screen and increase or decrease volatility. Or you can select "plot lines" (at the top of the screen) and "vol step" and step thru volatility changes.

Been using the analysis tab for a couple of weeks -- can't live without it. For example, "add simulated trades", select sep 65 put, buy, calendar. The sep/oct calendar spread automatically pops down the page. change oct to dec. the spread mark price shows, as well as the margin (bp...

Oct/Sep 52.5 put calendar in COST at .65 It was interesting that the mark was .70 and got this fill immediately as if it were at market. Closed at .60, the deltas are against me, at 12, so it's a risky position by itself. However I have a 1260/1240 SP (futures) put spread to balance it off.

I believe TOS has the capability, e.g. vix hits a certain level, and you can trigger an order, or an alert.

This may be related to the discussion on tent poles == I like Sheridan's suggestion on placing calendars -- just place the trade. Wait to see what happens and adjust accordingly. Sigh, my indicators tell me a bull market. So what do I do? I place a sep/oct 1240/1260 put diag. Now I am...

Hmmm..... I found one interesting problem the ES calendars. The Sep and Oct are based on two different market prices (sep vs dec). Now to figure out how to put that into an options analysis program. I can't figure out how to do an analysis of horizontals with different market prices...

How do you feel abt calendars vs the diag? I am looking at calendar slightly above the market. If market goes up, gain benefit of gamma, if down, then vega helps.

Multiple months means greater vega risk, along with the gamma risk. With the volty so low, perhaps a good time to try it. This is a good time for multiple month horizontal spreads, IMO.