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Hello, I've been daytrading the Haggerty 1,2,3 setup on the S&P e-minis with limited success so far. If you've been successful trading this setup, could you please share any insights you have on trading this pattern? Thanks. -- ITZ

Pretzel, Writing options will only increase your risk profile if the S&P's move beyond your strike prices, not reduce it. Draw the payoff diagrams and you'll see what I mean. As for bonds, the correlations to the S&P aren't that high, so you can't become delta neutral using bonds. -- ITZ

The premium won't evaporate in all in day. You can recover some of it by selling the options the next day. You'll lose at least the spread, which will be about 2 pts round trip per option contract, plus the change in volatility. As the average range of the SP is about 12 points, it seems...

If you buy a call, and buy a put, you're risk to this position is just he premium you pay. The long call and long put will offset any losses you may incur from a long or short futures position. If you're long the futures, the put will give you downside protection. If you're short the...

Yes, impossible to hedge out the risk completely. At best I think you can limit the risk via a straddle to a finite amount.

Yes, $SPX is a viable alternative as well. The only drawback is that the dollar value of the underlying will be larger than that of the 3 e-mini contracts, if I understand the terms of the $SPX options properly. -- ITZ

MYD, Thanks for your comment. I don't believe that options on the SPY are available. It's not available in IB, and I didn't see SPY listed at the CBOE for options. - ITZ

Ambush, Thanks for your comments. Yes, the Dow futures trade nicely and would be a good hedge if you know your current open position in the S&P e-minis. However, you might not know exactly what your position may be, because your outstanding stop limit order might have been triggered but...

Hello, After the recent Globex outage, I've decided to come up with a disaster plan in the event of another outage at Globex, my online broker, or the internet's infrastructure. Say you are long 3 e-mini S&P contracts, with an outstanding stop limit order that is being held on GLOBEX...

Lundy, Can you clarify your comment? What is your rate? For what volume? At which broker? Thanks. -- ITZ

Actually, these two contest here require trading of real money accounts of significanct sums (25K or so, if I remember correctly). Unless you are a multimillionaire or nutzo, I think most entrants will trade in a reasonable fashion. The PFG contest is also interesting in that it accounts...

How is MB Trading at answering phones when their systems go down and hundreds of their clients are calling at the same time? Are you able to get through quickly and place the necessary orders? How has their reliability been lately? Thanks for your input. -- ITZ

Thanks JT.

Hello, I'm currently looking for a backup e-mini S&P futures broker to IB, or perhaps even a replacment for IB as my primary futures broker. Any suggestions? I've perused the broker ratings on EliteTrader, as well as past threads, but haven't really found a consistently recommended...

Here's another contest, which also is widely advertised: http://www.robbinstrading.com/worldcup/

Thansk Tradewinds. I'll check them out.

Hi, Do you know of any brokers, other than InteractiveBrokers, that offers "Universal-like" accounts? InteractiveBroker's Universal accounts will move excess cash not needed for margin requirements from the futures account to the SIPC protected securities account. Is there any other...

Any thoughts or comments about it? Anyone know how big the cash price pools were in the past? http://www.robbinstrading.com/worldcup/

In regards to brokers with good pit-positions: which broker has the best spots? Thanks. -- ITZ

Thanks everyone.