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Here is the secret just for those that are reading this thread. SPY daily options Monday, Wednesday and Friday. As an example. Slightly out of the money Friday May 17 287 calls for .07. Buy 10 for $70 plus commission of $19.50 for $89.50. Sell at .98 for $980 minus $19.50 For $960.50. Not bad...

Paper trade until you understand the market. join this chat room http://www.premieretraderchat.com/ and follow for a while

You just taught yourself that you can play in a market that you do not understand. You are trading with no information. You probably have no charts, no alerts no level 2 and no trading software. You cant do it with a web based platform and $25 commissions. You just got eaten alive. To make money...

Forget all the analysis , pick a stock that moves daily and watch it. you need to trade 1000 shares and make 20 cents. do that every day Dont trade the afternoon you will lose. Watch a few stocks from 9.30 to 10.30 and from 10.30 to 12. pick the one you want to trade. start low at 100 shares and...

All option pricing is obviously computerised it would be impossible for a market maker to adjust pricing manually. The true price is somewhere between the bid and the mark (mid). The old technical analysis was definitely before algos. The most guiding factors for algos now are pivots and bid ask...

Another good one is SPY or RUT on Fridays for that weekly. Slightly otm calls can be had for 3 cents and if you pick the right time and direction you can make good $$. The volume last week was over 70,000 contacts on the SPY on Friday.

The only way to make money with otm calls and puts is as others have said, is obviously when you get large price movements. This happens often at earnings time and more often a negative earnings will sink the stock more than 5%. So you can take a strangle with a close otm put and if you think...

It is customizeable and programmable

Credit spreads are dangerous unless you know what you are doing. Look at Kirk on optionaloha he does a lot of credit spreads. You are better to start with cheap call and put spreads, strangles on earnings, cheap ITM calls on Friday weeklies and see how you get on. Sign up for thinkorswim and...

Probably the best Intraday scanner is on TOS. Not sure if will do spread scans for butterflies etc

An iron butterfly only works if the stock doesn't move or has very low volatility. If stock moves you have to roll it into an iron Condor.

Actually you can use stockwatch or iqfeed for data my python programs actually use medved trader api for data access which effectively gets the data from the data feed. all data access is via an htpp api http://www.medved.net/QuoteTracker/help/QTStreamingAPI.shtml

stockwatch have both eod data on all exchanges and options and intraday data. I use python to get data minute by minute and produces portfolios of momo trades right now. could add the api to trade through medved trader.

python and the pycharm IDE . lots of examples out there on youtube and stackoverflow. tons of data functions

That's right it cost you $950+commission to buy the option. If you sell it now you will get $1450 -commission. So 500 minus 2x commission . That's an expensive option you are better off with a spread.. That's $950 invested for nearly a year hopefully the stock keeps going up. Always better to...

optionalpha.com

A call butterfly is a debit. A sell iron butterfly is a credit in my books. Or perhaps I miss understood the question

So what do you think is the difference between a regular butterfly and a credit iron butterfly

A strangle will cover you both ways. And iron Condor will cost you less but not make you as much. Selling a call/ put spread outside the range would give you a credit but risky. All depends on option pricing and volatility

A credit