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You know you are ready when you realize you consistently (a few years+) make more money trading than from your day job. You realize your gains would increase if you did not have to spend time in your day job (for example, day job eats up time that can be used to make profitable...

Btw, it also looks like you are trying to do two things at once, so to speak: 1) Deep In The Money Options -- Delta 1 -- This is usually done for leverage, rather than option trading (as the premium is rather large) 2) Option Trading -- Which is usually done with less expensive options so more...

I think there might be an error there. With DITM, Delta=1 (close enough). Which means for every dollar increase in the underlying, the option price increases by 1$. Stop loss = 11.75. This is a 0.25$ shift. Which means the underlying moved 0.25$. So in your scenario, the PUT would be sold...

If you BUY a call and BUY a put, you are spending a lot on premium. If the underlying goes up, the put becomes less valuable. If the underlying goes down, the call becomes less valuable. Therefore, in the scenario where the underlying goes down and your trailing stop kicks in, you will suffer a...

The purpose of this thread was *specifically* to talk about shares and *not* futures :) Because there are a plethora of examples on futures I thought it would be nice to do one on actual stocks/ETFs. The reason being some people may not want to deal with any level of margin that would ever...

You get 1h45m sleep each night :)

Penguin: Read as much legitimate text books on the subject matter as you can stomach (not the get quick ones, the ones that cover the theory and contain studies). If you can't handle some books on this you won't understand what you are trading or what people are talking about. Read un-biased...

I kind of like that IB does not barter on commissions. With TD/TOS I see their fees, I expect it to be that. Then I heard they can barter and knock you off discounts. All of which is unpublished. Seems a bit 'grimy' and 'cheapens' them in *my* view. Why not be straight up with the fees...

Low IV will net lower premium (and may effect your profit/loss ratio). That being said, there are some situations where it's still worthwhile (increase the spread if you are confident of a bull). So I guess a 'General Rule' could be: Widen the spread to a point where the credit received (after...

Yeah, I agree when it comes to learning which trade to make or trying to get advice on what to buy/sell/etc. But I'm mainly looking for general real-time chat on non-trade-specific topics. I.e.: Anyone notice that spike in SPY on the close yesterday? Any ideas why? Anyone have any idea why...

May I extend the question: Anyone know good chat rooms where traders/investors can connect and talk to each other in a serious/frank way. (Not asking for people to call out trades or things, just good honest helpful chat). Thank you.

J.P.: You indicate there are other discount brokerage firms with lower commissions than IB. Does this hold true for Stocks/Options, or are you referring primarily to Futures (or Forex)? If so, could you toss out a few suggestions there? Esp. ones that are *at least* as credible/reliable as IB...

I'm actually interested in the conclusion on this. Some points: 1) Can you not specify the order *not* be forwarded? 2) Per the IB Web Site for OPTIONS: NA/APAC offer Fixed only. Europe offers Tiered. 3) Per the IB Web Site for STOCKS/ETFs/Warrants - Fixed and Tiered everywhere. I suppose...

OP: You're getting a low credit because premium is low (duh). You're getting low premium because volatility is low. The higher the volatility, the higher the premium. Right now it's trading at roughly 10% volatility which is towards the 'very' low end of the spectrum. You may have been used...

Personally I would have done the 1700/1690 bull put credit spread with the same expiration date. That way you know your absolute max loss. It also gives you good protection in case something nasty happens (flash crash, long term market correction, etc.).

You might want to see if market conditions in general were favourable during that period. If I recall, that was part of a mini-bull run era. You could try finding the worst market conditions and run it there (say Jan 2016 to April 2016). Of course, longer periods would be good too :)

5k is not much. Maybe it would be better to focus on working, *getting ahead* and earning real income from your job (which will pay more over the long term than what you will make with 5k capital). In the mean time you can practice occasionally on paper trading to get a feel for how executions...

Mostly true, the caveat being that certain trades you can not do without enough capital (i.e. you can't trade 1 option on AMZN with only 10k, therefore you are locked out of any option strategies that are unique to owning a lot of AMZN)

Yup, I do like the feature in IB that does that but yes, I don't trust it to know all the option strategies and to support complex strategies correctly as far as naming conventions goes. I suppose there is no such tool available. Thank you all.

Yes, I've done that, but its slow going to click through them all to try to find the one that matches and sometimes there appears to be none that correctly match.