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Thanks for replying. My end goal is to be able to write off expenses and possibility be able to contribute to some sort of retirement plan. I currently trade without an entity and as you stated do not pay self employment taxes on my capital gains (1256 contracts). I am on the fringe of what...

Just thinking out loud here… It is possible to setup an LLC to legitimize your trading business and fund it with a minimum amount of capital so that your profits barely offset your trading expenses meanwhile trading the majority of your risk capital in your personal account where you would...

SPX will trade on C2 pending some kind of approval that it is going through right now. I regularly trade several hundred contracts on days when I am establishing a position (spreads) which can be very frustrating. Since I have a day job I can’t really call up my broker so I end up...

Does anyone that uses IB know the all in commission on trading a single SPX option? From what I gather on their website it would be .70 (IB Fee) + .35 (Exchange Fee) + .00145 (Regulatory Fee) = $1.05145 Trying to shop around. Thanks

Thanks def, I have been trying to figure this out for a while. Will be looking to setup an account sooner than later.

Since we haven’t gotten any responses I setup another thread with a more descriptive subject line in hopes of getting a bite. http://www.elitetrader.com/vb/showthread.php?s=&threadid=217327

I have read several forums (conflicting) as well as the IB website but I am having a hard time understanding IB’s cancel/modify fee policy regarding option spreads. If you enter a US Equity or Index option spread and cancel it, is there a fee associated with it or is it just single option...

Agreed Japanese stocks jump as G-7 reportedly approves forex intervention http://www.marketwatch.com/story/japan-stocks-us-dollar-spike-on-g-7-forex-plan-2011-03-17?siteid=bnbh

They are subject to it so watch out if have dont have 25k and especially if you spread them and cover or roll.

Not sure what type of option contracts you trade but if they are 1256 contracts then just pull up your "View end-of-year report for 2010" in the tax section of their website. The total GainsKeeper Gain/Loss column is all you need.

TOS is real time once funded. As to how much you need to fund it, I am not sure. Try going to the live help dropdown on their homepage. They are ususally pretty quick about giving you an answer since it is a live chat.

What we have been waiting for! http://www.chicagobusiness.com/article/20110228/NEWS01/110229890/cboe-files-to-list-s-p-500-index-options-on-electronic-platform#axzz1FJL35Pnj

If the options are on futures then I believe you are correct. If they are on equities that are not broad based indices then the OP is out of luck (From my understanding). Or any of the other 1256 requirements

Perhaps, but I have never understood why this is rocket science. Once all the individual components open it should take like 2 seconds to calculate. And you can’t tell me on a day like today that the 100 stocks in the NDX haven’t traded by now.

Same story on NDX today. Its an hour and a half before the market closes and still no am settlement value. CBOE, you are worthless.

It’s been a while but last time I tried trading FX with TOS you had to transfer money to a separate account. I found it strange because I got FX approval on my an account but then tried to place a trade and was told that I need to transfer funds (I believe it would take a day or two as well...

Thanks Landis82

FSU is 100% correct.

It is, but the point was that just because they have access to the exchange doesnt mean they offer every product. TOS offers end of month ES options but not the weeklys case and point.

I beg to differ http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500_contractSpecs_options.html#prodType=WK1