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I've been singing this all day long Thanks Blackhawk

I don't think I know enough to give you advice there. As a smaller trader if you are doing spreads you would probably want a broker who routes the spreads to the COB. Each broker is different on what size and types of orders the send directly here or to a broker first. That being said, I have...

You have until 5:30pm eastern time to either file a contrary exercise form (if you dont want an option exercised) or to exercise one that is out of the money based on the closing price. Each broker has different rules on when they need the information in order to meet this deadline. This...

The SPX is traded on the CBOE only (along with the CBOE's other proprietary products the OEX and VIX). There are well over 100 market makers in the SPX pit. What I said was there is only 1 marketmaker sending quotes at one time. On a rolling basis different market makers (there are...

What was the symbol of the product you were trading? As mentioned by others there are several reasons a European option may trade under parity. I agree of course that a 5 wide quote is untradeable, but I am guessing that fair value may be in the middle of the quote, around 8.5, so your 9.5...

Can't give my secrets away :) But basically I try and put on low risk positions were I think I have an edge. I also trade similar products against each other. I generally trade long premium. Basically you have to find something that works for you. If you plan on simply selling credit...

The compromise by the cboe was to create a new product, spxpm and put that on the c2. There are no plans to move the SPX itself.

Yes, much less volume as it just start trading a few weeks ago. Still very tight quotes, so I don't think you would have a problem with fills. I am trading in it today and have been getting filled in between the tight quotes. The only two vendors that I know of that show the cob are WEX...

Your welcome, You also may want to look at the SPXPM options. These are the same as the spx options, but they expire in the afternoon. They are all electronic and have much tighter quoted markets.

The quotes you see are the only ones anyone can see. No way to know other Market Maker quotes except with the method I described in my last post. If you want to execute a spread, put the order in as a spread. The spread will most likely be sent to the COB (complex order book) This is...

The SPX is unique in the options world. While other option pits have multiple Market Makers sending quotes, the SPX has only one. This results in very wide quotes as this MM has no incentive to quote tightly. He does not want to get picked off if the market moves quickly. If an order comes...

Cancellation fees come from the exchange to the broker after a certain number of cancels occur. This is done more to try and stop public customer "market making" than for bandwidth reasons. IB is the only firm I know of that charge the customer this fee.

Just started Monday.

Go to www.theocc.com This is the Option Clearing Corp site. Type in BMO and you will see memos on this. When I pull up the quote these strikes are listed as BMO1 with a description of the cash component..

Assuming you are talking about the markets, not the last price. The 12 thru 7 strikes include a cash component in the options.

There is no consideration of "max profit". Everything goes in the "mix" of thier postion. They are looking at their total delta gamma, theta, etc and what their max risk is if the market moves big.

All the market makers in the SPX pit hedge with the SPX 500 future, whether the mini or the full size contract. None of them are concerned with deltas less than 1 emini (100 deltas). I think I can make this blanket statement. The vast majority of the MM's here are groups, very few individual...

No matter who you are you must be able to borrow the stock that you are shorting.

VIX options do not trade after hours. They trade only on the CBOE between 830 and 315ct

ITG also has good access to the various COB's. I currently use WEX and as you say it works very well on the various COB's.