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I think around noon EDT. I'll post an updated spreadsheet that compares the Friday SET with the Thursday SPX close this afternoon.

Point taken. I suspect that that will be part of my strategy diversification over the next five or so years.

Here's a chart correlating housing to Personal Consumer Expenditures (PCE). The chart suggests that consumer spending will freeze up which won't bode well for the economy.

Pray tell. What do you intend to trade?

Question for Mav. Right now I'm busy building my business, but in 5 to 7 years, when I plan to retire, I want to become a serious option trader. What does a retail trader need to do in order to qualify to eventually open up an account with your firm (I'm assuming you only have prop...

Coach: It looks like your still up even though it's pushing midnight on the East Coast. Here's something I've been wanting to discuss but work has kept me too busy to get around to it. In August I hedged my bear call positions by buying SPX calls instead of SPY calls in a ratio of about...

RR: What's the rate if you trade 20+? I recently added money to my account and am starting to trade 20 lots instead of 10.

Jim: Seriously recommend that you consider switching to ToS. Many of us here have and virtually everyone is very happy they did (I think even piccon came around). It'll be different at first, but once you get used to it, you'll be very thankful that you did. If you sign up with ToS, tell...

Anybody looking at put diagonals on the SPX? I'm considering the Oct 1250/Nov 1225 which currently has a midpoint debit of $1.50.

About a 18 months ago, I tried "day trading" these credit spreads on the last day and then getting out in the last hour. I was successful every time, but the stress was high. Typically, I was getting $0.20 to $0.25 credit on Thursday morning for a spread that was 10 points OTM and then I...

RR: I'm getting confused. Isn't the SPY 1/10th of the SPX? So you're talking about the SPY equivalents for the SPX values you mention, right? 2000K???! As I say to my better half, "Are you loco?". :) If I had that kind of coin, I'd be out on my extreme yacht, and not worrying about...

Yeah, I read your earlier post on using the SPY quarterly and it sounds like a good idea. Have you done any trades on these that you'd care to share.

Every time I talk to them I mention the thread and how there's a lot of talk about options on futures. I have a couple of days to fund my new IB account before they cancel it. I think I'm going to let it die and wait for ToS.

Spoke with Joel Blum at TOS about options on futures. He reiterated that he expects (hopes) to have these available by the end of the year.

Nice trade. I put the 1375/1390 October bear call on Tuesday (Monday was Labor Day) and only got $0.80. Who was the broker on your trade?

Attached is a ten-year chart that shows a relatively tight correlation between the S&P 500 and the NAHB housing market index. The stock market is normally about 12 months behind the housing index (as indicated on the chart--S&P 500 "lagged 12 months"). It looks like the housing index peaked...

It's looking like there are a lot of interesting possibilities with regular and EOM options on futures. I'm gonna have to call Joel again at ToS and push them along (if possible) on getting those options on futures for us.

Murray: The position is a reverse diagonal, i.e. the short option is in the back month. I think your response assumes that the short option was in the front month.

I'm curious about how the following diagonal would have been settled this month. Assume the following position: BTO SPX August 1325 call STO SPX September 1300 call If one had not adjusted this diagonal, how would it have settled today? The Sept. 1300 is ITM and the 1325 disappears as...

The last couple of months have been really good for bear calls and I did very well. Since I've been posting my good results I need to be fair and post the losers as well. This month I placed a stupid trade, SPX 1300/1315 bear call. The reason it was stupid was because it didn't really meet...