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Art - nice article in the Feb 2007 issue of Futures Magazine !! Anyway, perhaps you need to add a few more "soft" indicators : 1) goldilocks economy effect (+3=rampant belief nothing can sink the economy, -3=we're going into a depression) 2) permabear disgust quotient -3=bears in total...

This doesn't make sense at all. Daily range data, especially including "gaps" outside of the trading day is not a good proxy for movement "potential" intraday. For instance an index can go straight up all day, low to high, for 8 points. Another index could go up 6, down 4, up 6, and then down 5...

These numbers are meaningless unless you look at the average daily range or the "travel" distance of these contracts. Even with this low VIX, eRL "travels" nearly $1000/contract per day. That's the stat you want to compare.

This contract is tough, mostly because of the stop-running and noise present. I lost money on it, went over to NQ, made money (Wow, NQ seemed so "nice", so "tame" !), and then came back to eRL, and.....yes, ONCE AGAIN, lost money. I think it's a great scalping contract, but if you are intraday...

Dude ! Get with the program....with VIX near all-time lows, no one is following the "normal" indices. All of the action is in the Russell 2000....as in RUT....as in IVM etf and as in eRL Futures. AND...the Russell 2000 was BY FAR the weakest index today.

Sell signals ? Omigosh, did you see the Russell 2000 today... it was MOMBO weak. I'm going to rename it the Russell Weak 2000. "Look out below". Despite Uncle Ben's dovish commentary, the small caps know "it's coming" (higher interest rates).

Naz is obviously the weak index here....albeit the RUT did not show as strongly as it should have today. My take: any thoughts of interest rate hikes are going to hit the small caps the most.

Thanks, but you misunderstood me...the statement was two parts: one part indicating I can get the same dollar effect with 1/3 of the number of contracts. The second part was thrown in to show that commissions are 1/3 as well. Now I see why brokers LOVE ETF's and ETF options.

Thanks for the first intelligent response ! Whew, I forgot about the European vs. American expiration style....definitely an advantage for the index options. Who wants to be called early ? Cash vs. Physical settlement....no big deal if you are trading options and not holding till expiration...

Well guys, maybe this was a test, maybe not....but I am very disappointed in the responses received so far. I finally came to the conclusion that ETF options were made for hedging underlying ETF equity positions. NO, NADA, ZIPPO, ZERO advantage over counterpart INDEX options. Bottomline: ETF...

Yeah Don, but we're talking about the issues of expense deductions and potentially about capital loss limitations as well. What does "mark-to-market" have to do about these issues ? When you say "record keeping hassles". you mean licensed professional traders don't have to account for their...

so the issue is all about insuring you have "trader status", correct ? Does Series 55/7 licensing help in that regard ? I mean technically, someone could be licensed, and still have another non-trading job, but it would seem to at least put=up a smoke-screen in front of the IRS, no ?

However, if you establish a sole proprietorship with a separate tax id, you are effectively establishing a separate "entity"....so I don't think the 2% AGI limitation applies in that case. I've just posed this question on Green's forum. With all of the costs of trading, computers, monitors...

RmlTrading's helpdesk email address is not working.... this is not looking good for them.

Wow, thanks...and that is very interesting. I guess the first poor option trader to be hit with an IRS audit will help set the precedent. A challenge could initiate a final ruling on the matter. I wonder what position Green is taking on this ?

re: rmltrading. New "Orderfloat" platform forthcoming....will be free ? Futures commission: $1/side ? Wow. This sets the trading cost at the lowest I've seen.

While on this subject, let's see how the trial lawyers are living, shall we ? http://www.buffalonews.com/editorial/20070208/1033539.asp

http://delayedquotes.cboe.com/options/options_chain.html?ASSET_CLASS=IND&ID_OSI=9824287&ID_NOTATION=8941836 No volume ? Nearly 40,000 contracts traded near-the-money in call options alone on Friday ! One other thing to mention, index options like RUT.X, expire on opening price of the base...

Based on the above, did you consider you really don't NEED level 2 to meet your strategy's requirement ? You may discover the level 1 data is adequate and that you won't have the problem of the volatile nature (faking, pulling) of bids/asks above or below the last print price. Strategy Runner...

...and let's not forget the beloved Russell 2000....which was rockin on Friday (mostly down) after hitting a new ALL TIME high this week. IWM volume on Friday - over 50 million shares traded !