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You are right that a 50 point wide spread doesn’t help that much since your protection is far away, but your alternatives are to do a spread with closer strikes which may or many not alter the reason for you doing it, or just sell the put naked. The only way to do it naked is treat is just...

I have no idea where you are getting your information. As I already stated I get filled in the middle of the bid/ask on option spreads on the CME all the time, the same as any other exchange. There is no “implied pricing functionality” that gets you filled. You put your spread order out...

Knowledge earned is far more important than information given. You are asking a lot of basic options questions that you should spend a long time researching. Once you have read a number of books, and gone through a lot of online material then you can start asking hard questions, but not until...

Your question makes no sense. M oct 27 calls closed .88-.91 yesterday and they are .74-.77 now with the stock down a little. You can’t ever look at “last” with options, always track the bid/ask.

Then I still don’t know what you are asking. If you are hitting the bid or taking the offer of the exchange’s disseminated quotes then you will be filled whether it is a single order or a complex order with multiple legs. I trade spreads on the CME all the time and I usually get filled at...

Each exchange has the ability to show the market makers, and others, spreads that are working, like the complex order book. So if anyone wants to trade your spread they can. If your spread lines up with the bid and ask of the exchange then obviously you should be filled. If you are asking if...

Hlpsg, As I said, my knowledge is from the old days so I can’t tell you exactly what happens today. However, I can tell you when I did it that most orders would be filled close to or at the bid/ask (good for MM bad for public). Market orders were definitely less common than limit but we...

Hlpsg, Yes there was spread orders, all kinds back then. The order would come to the floor via a broker who would walk into the pit and ask for a market and we would respond. If it didn’t fill it would usually just sit with the resident pit broker who would hold it and try to fill it if he...

I can speak to the good old days. The bid ask spread was set by the exchange and the MMs could make it narrower if we wanted. When a new product was listed you would look at the historical vol of similar stocks, but you obviously couldn’t know for sure so you were basically guessing and then...

This is a joke right? HoCo is back pulling our leg? Or is this just one of the most moronically stupid posts in awhile?

At least we made the news. This story has a link on the Bloomberg home page. Feel free to add some comments. http://www.bloomberg.com/news/2011-09-30/td-ameritrade-s-thinkorswim-clients-can-t-get-trading-access.html

Optionsxpress: they charge unbelievably high commissions for options on futures, they are so high that you can’t use them no matter what. Trade Station: I thought they had gone downhill because people were saying they were not trying anymore.

I can’t believe someone hasn’t tried to start a replacement brokerage company because of the void left now that TOS no longer exists. There are really only two companies trying to offer stocks, futures, and options on both. If you don’t care for IB for one reason or another, there is...

Yep, just got kicked out and can’t get back in, the phone says the wait is over 20 minutes to talk to someone. The funniest thing is how the guys who founded TOS kept saying how the TDA takeover would be a “good” thing.

Correct. The only problem here is the ludicrously incompetent moderators who failed for 2 days and 6 pages and have still not realized that not one post has anything to do with Trading. I don’t blame Baron since he is busy with his 20 new fake handles created in 2011 making endless...

As to the proposal in the article from the op at least they are talking about a higher tax on one million per year and not the 250k that they kept bringing up before. I am not going to argue that a million a year is poor, but if you take a couple with four kids living somewhere expensive like...

How about a website that doesn’t look like a high school kid who got a C in computer class put it together over the weekend?

It depends a lot on personal preference and the particular machine. A new machine with a good processor and tons of ram probably won’t be affected by a few extra processes running. On the other hand if you are picky about that stuff, I have only 30 processes running after my machine boots...

In the gutter after selling naked options and not wanting to cover his risk “everyday” and leaving his broker with a debit?

Are you referring to the NDX (Nasdaq 100)? If so there were many bigger moves exp to exp. This past one was number 11, April 2000 was number 6.