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yes, CHF is a major. AUD is a "soft" or "minor". Both AUD & CAD have the particularity to be heavily influenced by certain commodities such as gold, and especialy oil for CAD. Of course the correlation between commodities and these currencies is not perfect, but there is somewhat of an influence.

IB has just activated the "penny options" quotation. This is brilliant !

For what its worth, my long position on december contract looks like it may be heading into a triangle formation with decent break-out potential North. ... we'll see, it might be ripe in a few weeks.

Just, I'm using ice & nymex data via Interactive Brokers.

Yes, a great leap forward for options trading indeed !

Important Information About Interactive Brokers Penny Option Pricing System In order to assist our customers to get better prices for their option trades, Interactive Brokers ("IB") has developed a system to allow customers and liquidity providers to display penny prices in the IB system...

Great news for options traders. Options can now be bought/sold in penny increments. I deal through Interactive Brokers (satisfied client for several years now). Here is a brief description of the "penny options" pricing: Penny Pricing for US Options In an effort to help achieve price...

Let us take this moment to bow down to the great inspiring Steve DeTwitt and endure to follow in his footsteps. Praise.

Hello Artis, Letters of credit are not bilateral agreements (just as a cheque is not a bilateral agreement). A letter of credit is a payment instrument that involves 3 parties and that results in transfering the beneficiary of a debt (otherwise said, the person of the creditor changes)...

just googled "steve dewitt" and came up with this: http://www.leaderspowerline.com/ (this one is extra cheezy... trailer-park quality) and after founding his university, looks like he founded his church too : http://www.bethelweb.org/pages/stevedewitt.htm he's an architect too...

You mean some guy named Steve DeWitt founded a "university" that bears his own name during his lifetime ? Wow, why didn't he just found his own kingdom while he was at it ? Sory for this interjection, I suppose I'm just an education freak and I hate seeing "university" or "diploma" or...

I have a minute free so I'll throw in a random suggestion: After you have a good understanding of the greeks and a half decent pricer (yes, you have to understand how the greeks work even though you can/must use a pricer), don't forget to learn about volatility skews, and call/put parities...

indeed, trying to day trade options is generaly a bad idea. Agree, once one masters at least basic mechanics of "complex strategies" (diagonal, vertical & horizontal spreads), options can be very conservative plays.... or as risky and violent as you like. My 2 cents: learn alot...

trader jb, You must understant that the futures prices are quoted at a slightly different price than the spot price because the interest is included in the futures price ("contango" & "backwardation"). Once you credit/debit the interest to/from the spot price you will end up with the same...

Just passing by ... hope this helps guys. Download to "options toolbox"... great litle interactive learning tool from the CBOE: http://www.cboe.com/LearnCenter/Software.aspx Enjoy :)

Well, I never said I was looking for gaurantees ... but certain suicide is another thing. :)

No real difference between FX spot & futures. The quotes may look different but that is just because the interest is worked into the contango/backwardation in the futures prices.... there is absolutely no arbitrage to be had between fx futures and FX spot.

Thanks... but no thanks. I'll just stick to safer things for thrills such as playing russian roulette while driving drunk through Baghdad.

Petrotrader, Don't get me wrong, a LOC is entirely possible to use as collateral (the proof being on your desk :) ) it is just very marginal and, personaly, I have never seen it done. Maybe it is common practice on the commercial side of the energy markets ? My experience on the markets is...

Wow, I don't know where to start ... but your +48% in 2 weeks should tell you that you are sitting on a bomb.