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Was the an debt or credit vertical. Also if you do a credit vertical, do you go OTM a few strikes and hit up the ATM one if you are going for more of a direction?

Another way to get a more favorable RR and have more of a gain in a trade like this is to buy an OTM call since you are bullish. And them sell a OTM put spread to finance the cost of that call. However, that is still 3 legs in the trade so watch the commissions but it is just a financing...

I use them just for the decay. They are usually my last strategy whenever going through everyone. If a condor, calender, or DD does not fit a certain stock or index then I will use the butterfly. They work pretty well this those stocks with $5 strikes and low vols that you really can get a...

I have notice that some have OI but not very much volume at all. Alot don't even trade or have any OI. It is a good idea, just have not became very popular with everyone.

I was just wondering if anyone here trades the binary options on the S&P or VIX. They ticker for the S&P is the BSZ and the VIX is BVZ. They dont seem to trade very much or are very liquid, just not very popular right now with everyone because they are so new. I was just wondering if anyone...

The /E7 mini is pretty liquid. It just depends on that size you are wanting to trade in these. There is a product for everyone.

If you want the mini CME FX futures it is the /E7 and they just released a micro one that is the /M6E

I always route to ISE on most ETF and stock options. I only use CBOE on SPX,DJX, and XSP because I have to. However, I have started trading MNX and RUT more than SPX and DJX so I always route to ISE on those. Still remember, if you are trying to get mid points on some of these index...

I have been using TOS for years and nothing have changed since the merger. They still offer fast customer service and all the great tools for option traders. They even still allow the changes in the commission schedule right now. Nothing has changed that I can see, they are still great.

Well my plan the entire time was to play it for earnings so this was a great way to play it. I see what you are saying but I wanted to by myself some more time for this trade.

butterflies are not to bad to trade within the last 2 weeks before expiration. However, I am usually rolled out into the next month by the first 2 days of expiration week.

Cool, I was able to leg into an MGM call debt spread for no risk. I was doing a spec. trade in MGM when it was at 6.50 for earnings. I just went out and bought the 8 calls for .20 Someone was selling a lot at 8 pushing the IV down to 75% when I bought then whenever the 7 and 9 where about...

You need margin account because what happens if you get assigned on that short option? You need that margin to cover the assignment. Why dont you just open a margin account and be done with it? That is what they are saying about the american and euro options. Since you said that you wanted...

Ya, and in this last 15min on the SPX you can see some weird things happening. You can see my P&L on a SPX condor go from +$250 durning the day to -100 in these last 15min to where they close the prices. It paints a bad P&L in your portfolio every night. lol I guess it is so when others are...

I just priced the SPX and /ES 930 calender for AUG/SEP and the /ES calender was 11.50 and SPX was only 9.90 mids. You have to know what you are doing on those future options, they are alot different. SPX is european options so do differences.

why not just use SPX and not /ES?

Could have been whenever they busted that earlier trade.

A butterfly has 4 options on it, and the iron butterfly has 4 options in it so it will not be any cheaper on commissions. Prices are almost exactly the same also on both types of spreads. Iron butterflies just give you an easier way to adjust a trade that is moving out of one of your...

What you are talking about happens a lot around earnings, like we are in now. Before the earnings comes out, volitility is high. Then after earnings come out, even if they are good and the stock moves up, they take all the volitility out of the options as soon as the news is out so it will...

Johno, if you sell a naked 45 put what is your max loss?