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From Reuters: CHICAGO, July 10 (Reuters) - Two of the largest U.S. options exchanges on Monday launched a group of index options with end-of-quarter expirations, highlighting the growing interest among investors in exchange-traded funds. The Chicago Board Options Exchange, the largest U.S...

Coach: What's your take on the new quarterly options? Not sure they will do much for the credit spreaders but maybe for the diagonalers.

Mark: I don't trade the XEO, but my experience with the SPX is that it is very difficult to get filled near the mid during the first hour or so of trading. It seems like pricing is still getting established during this period. Example: I'm looking at the Aug 1300/1315. About 15...

I've noticed increasing distance between the midpoint and actual fills myself, but I've never gone more than $0.15. If I can't get filled at that, I cancel the trade. Speaking of trades: Got filled on the following this morning: Aug SPX bear call 1300/1315 at $0.90 This trade was an...

Nice writeup, Murray. Thanks!

I decided to call Joel Blom, President of ToS, to discuss ToS making options on futures available. He explained to me that they will most likely eventually include them. I explained that our forum was beginning to include trading options on futures and he said he knows Coach Phil. I explained...

We've had quite a few discussions of ToS versus OX and IB on this thread. I think I can say that, of those of us who've tried both, most feel that ToS is better, especially the desktop software. Before, OX had a better web-based platform, but I suspect that is no longer true. With the new ToS...

Did those of you with ToS notice that they made some improvements to the web-based trading. It's getting closer to the functionality of the desk-top system. I'm playing around with it and it looks like I can enter in credit spread orders with the web-based system about as easily as with the...

rsflint: Do you have the 1300/1310 or the 1300/1320. I was trying to get into the 1300/1310 today for a buck and couldn't get it. But I wouldn't relent because I swore I saw that you had posted that you had gotten a $1.00. Is that ridiculous or what on my part. It seems like trading...

There was a period where I was sure you'd, at least mentally, gone over to the CTM side. :) If you don't mind sharing, how has your strategy evolved. I saw that you're trying a put diagonal. Have you actually placed any CTM trades yet? EDIT: I'm liking the 45/15 or 45/0 day strategy as...

What you say makes sense. Frankly, I guess I'm feeling additional pressure to put on some August trades because my P/L in July was comprised of both profitable July and August credit spreads. Since this doesn't happen often I'm feeling pressure to keep the ball rolling, otherwise the 2 for 1...

Nice, Heather: So now that we both have powder and time till August expiration, what else are you considering for August? Premium is drying up in the range I would like to be at (namely short > 1325).

Coach: I'd like your opinion on the following trade strategy. Sell August 1300/1310 SPX bear call for about $1.00 Buy August 127/128 SPY bull call for about $0.35 Hedge is purchased in equal number of contracts as SPX position.

Hi Apex: I noticed in your profile that you list your occupation as Trader. Can you provide us with any more information. Are you a professional or someone who's given up their day job to become a trader. Sounds like your experience is mostly with futures. Anything you care to share is...

Rich: I only trade bear calls now. I put on some AUGUST positions last week that after the big drop this week I was able to sell and retain over 75% of the credit. So still have about 5 weeks until August expiration and I'm looking to go again with some August bear call positions. If I...

Rich: I recently closed out some August bear calls and am looking to put on more. How did you select 1300 as your short?

Hi Bob: The RUT closed around 681 on Friday. You're still about 30 points away, which would probably suggest waiting to see what happens next week. However, the RUT is more volatile than the SPX. Have you traded the RUT before? My limited experience with the RUT is that the MMs really...

I see it takes a math problem to get you to post these days :) Not sure I agree with you. In your example, there was never more than 20K at risk at any time. So why you would suddenly add all of the margins together, I'm not clear on. Let's assume 20K in your example instead of...

Always nice to hear from you Murray: I think you missed that these were August not July options. However, I pretty much agree with you. Had these been July options still DOTM and with a week left I would only get out for $.05 or less (I already did that by legging out of my previous July...

I'm trying to calculate my return on margin so far for the year. Each month I have had a different margin at risk. So, my initial attempt at calculating this is to sum the margin for each of the 7 months (I've already closed all positions opened prior to July expiration) and divide by 7 to get...