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Don't the new "weekly" SPX and OEX options start today?

Coach: Are you considering any bear call spreads before the weekend is upon us and theta kicks in even more? I'm considering a 1240/1255.

Hi Jerry: I have the 1130/1140 as well, but I think it's too early to get really worried, although we do have to keep our eye on the situation. Coach has a position that's closer to being a problem, I think around 1150/1160. We can watch and learn from what he does as he will in almost...

I just couldn't resist the premiums on the bull put side. Got the following filled with ToS. Called to 'goose' the trade and it worked again: 1085/1100 Nov SPX filled at $0.60 Interesting thing happened. I called to goose it, and got a call back saying it was filled and would probably...

I just switched to ToS a few days ago and I have a number of posts on the subject. I was strictly OX before, but ToS seems far superior. Goosed my first order for a fill today by calling the trading desk. I was never able to do that with OX. Check out my posts from a few days ago. The...

Coach: I mentioned the ThinkSpreads feature on ToS. For learning purposes, here is an interesting IC trade: 1185/1190 Nov bull put 1195/1200 Nov bear call Trade is placed as an IC for a credit of $5.00. Current 'mark' (TOS speak for midpoint) is $4.65. Looks like the trader is...

Placed my first OTM credit spread on ToS today. Had the same order in as Coach. Nov SPX 1100/1115 at $0.50 credit Didn't get filled for about 20 minutes. So I called the trading desk like others have suggested. They said that they would call down to the pit to see what was...

Coach: As you know I just opened a ToS account. They have a feature call 'ThinkSpreads' which I believe lists all of the spread trades currently submitted within ToS. This is very interesting to peruse and I found one, in particular, that interested me. BTO 10 Jun 2007 1100 Puts STO 10...

keafan, Doc, Jack: Thanks for the heads up and advice. You are right. All you have to do is look at last Nov (I made a ton of money that month buying not selling). I know one of my personal weaknesses is this idea, which I have trouble shaking, that I have to be in the market every month...

Donna, Ryan, DayTrader and Murray: I hate you all :) Just kidding. I guess I was the first to post on the 1240/1250 and I got the lowest fill:(. Anyway nice fills, but I agree with Coach. I would rather have put on a bear call with both strikes above 1245. Let's hope it's a calm...

I just received confirmation that the deal is as expected (i.e. no minimum number of trades required and access to trading desk). I also asked about options on futures. Scott replied that they are "still some time off" for options on futures because they can't be cleared under Penson...

I believe the deal I mentioned earlier does not require that one be a frequent trader. As far as I know there is no minimum number of trades required to get the $1.25 rate. However, once my account is open, I have to e-mail Scott Sheridan in order to get the discounted commission schedule...

Refresh my memory. IB does have trading on options on futures whereas ToS does not? But this is only an advantage during non Wall Street trading hours (i.e. I could play an overnight move with options on futures, but once the exchange is open that advantage is gone??)

CNBC just announced that Ben Bernanke has been chosen as the replacement.

Alright!! I just called ToS and talked with the guys there. Scott Sheridan made me a deal on commissions, because I told him that OX gives me a great deal. I asked him if I could post my deal in this forum and he said yes. Sounds like he will be willing to give the same deal to others...

I tell you I'm getting fed up with OX fills. While they seem to do fairly well on the bull put side, getting my bear calls filled is always difficult. Today I tried to get the following filled: Nov 1240/1250 at $0.55 (this was after starting at about $0.65) b/a was around $0.45 to $0.8...

Yellowjacket: I think the effect of this should be taken into account. I just PM'd you to discuss how I might do this. Thanks.

The only skew I know about is the skew in volatility for puts relative to calls. Are you talking about using the actual implied volatility for each different option? The curves did use a constant volatility for each option that was just assumed at 15% for the first graph and 20% for the second.

I'm still learning the greeks and haven't developed the ability to think in terms of the greeks alone in making decisions. Could you provide a practical example of the intial hedge you're suggesting? Also, if you were to trade a credit spread, when would you add the hedge position?

riskarb: Thanks for the response. Not sure I understand what you're saying. The loss on adjustment is the debit incurred by rolling down from 1140/1150 to 1130/1140 at a particular strike price of the SPX index. Whether you'd actually do that or not is a function of a number of factors...