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I`ve just got some good news from today`s webinar. IB is testing direct access to S&P500 options pit. No details disclosed yet, but there is some hope for better. I am not familair with RUT neither, but i like the size and overall correlation with S&P, but if there was an access to S&P I...

Donna, here is description: http://www.promanagedfutures.com/ctas/ansbacher/understanding-index.htm

Options have taught me one lesson - it pays very often to be contrarian. As long as pricing is favorable, I would get in. BTW - calls are easier to hedge as upward moves are not so violent as those going south. The problem is to sell them well - getting good fills, relatively far OTM...

Not yet, working on it. Also - I am watching RUT - what do you think ?

Cache, try ES. Smaller, but you get filled in a flash (sometimes).

Welcome everybody, finally the thread I have been looking for. A lot of my experience is identical or similar: I also published in Futures, March 2005. Same experience with institutionals - one guy asked: how about S&P gaping down 15% at open ? (I trade S&P options) No comments. Few...

Maybe right,maybe not but many times if noone expects... the impossible turns into reality. I converted and reduced my upside hedge in anticipation of testing resistance level. Now, whatever comes...

That is why I am talking about the past. I do not trade like that any more, and I would not care about high returns in daytrading. Right, it is topic for longer discussion, but let me put here quote from my friend, former pit trader: "Both options and hard liquor work well for smart people...

You were still doin` much better than I was. Many years ago I was daytrading Yen for living.. when I went out for the weekend to Atlantic City there was no fun, as all gambling seemed to be boring to me at that time. That was the sign showing what kind of crazy life I had as daytrader...

You just have made some money, so you want to spend it in Vegas... What a life...:D Have fun.

That`s what this game is all about :D

Oooops, should be: 60% chance btw. 1250 and 1330 30% chance btw. 1235 and 1335 10% chance over 1225/1360 range

As I use my own concept for this estimate, hence my reults: 60% chance btw. 1250 and 1330 30% chance btw. 1235 and 1235 10% chance over 1225/1360 range

Agree about SPY (not necessarily in regards to patriotism :D ), but ES is European style, that is why I`m staying with it. Large S&P would be the best for my CTA, but so far I have had awful experience with MAN electronic platform resulting calling the floor with almost every order. Any...

Which broker are you using ?

Thank you for all answers. Regarding ES - as I traded SPX before and I trade ES now I would recommend this change to you. Firstly - liquidity is much better, but this is not all, as you may find margins much more attractive, although overnights are somewhat higher than daily numbers...

Coach, few qs: 1. Any particular reason for SPX vs. ES or SPY ? 2. How hard is to get such fills on those spreads ? (I trade closer to ATM). 3. Does time frame for April come from experience or there is another reason (I open them somewhat earlier) ? Thx

Although I use different calendar combination with IB I get lower margin as well.

Frankly, I like iit in my private account, but for OPM I`d rather stay with BOX - no excitment, but some average. The worst is when market plays around the body for a while and then flies away right before expiration. I know, you may get out, but this is like daytrading sometimes.

You forgot Big Brother to make this intelectual challenge completed ;) But to make this party over - are there any other concerns regarding conversion of OTM verticals into Iron Flies or Boxes besides price ? I usually stay with BOX, as index going deeply further in one direction...