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This is obviously underlying dependent, but I would be surprised if it is common practice these days where the market makers are refusing to fill an order at the currently disseminated NBBO. In the old days we would have never done that, even if the other exchange is off a little you would...

Give some specifics. If you mean actually hitting the posted bid or ask then you should be filled immediately. I find it hard to believe that TOS told you that you would have to pay more than the posted offer.

Yep, same for natural gas, corn, wheat, soybeans, etc.

They intentionally have the options expire a few days early because CL is physically settled. Extremely few of the CL traders would actually want to take delivery, so they have the options expire into the futures contract then you have a few days to close out your position. If some trader...

No offense but something doesn’t ad up here. The fund you were referring to is their preservation and growth fund, which is not a great way to go because it has limited upside but if the giant collapse in the market ever does occur you will have a big loss. What doesn’t make sense is you...

I am not sure why the op is hiding who they are but LJM has been discussed here before. As far as I know their main focus is just selling OTM options and hoping. Saying they didn’t “blow up” when they had a 57% drawdown in October 2008 and were still down almost 50% for the year is a...

Nice example of what can happen: He is short the ZW Aug 950 call, the mark from his screen shot was .5, but the market right now is .75 bid at 16.25. Obviously the market is not really 16.25, but it shows what happens when the market makers get scared and give ridiculous markets. Even if he...

Obviously we already know the answer to that question. The very few who can extract excess value would not post what they do, here or anywhere else. Couldn’t agree more, I would just emphasis that these people always, always over leverage and set their sites on annualized returns that no...

With regard to Betapeg and his trading: I can say that it is possible to make money by selling otm options, but the numbers that most people use are always wrong. You cannot make 50% per year as is claimed here and only have a 1-2% drawdown. In the long run you may be able to make 20 or 30%...

Exactly. I really like them for swing option trades, and I would love for them to be fast and offer a lot of products, but so far that just isn’t happening.

From my experience the exact specifics of when the market makers start to price in the weekend varies on the underlying, but basically you can think of running time ahead in a smoothed fashion. This will obviously vary if there is news expected at some point, and you can always argue whether...

There is no decay or volatility adjustment for the weekend. The prices and vol are already priced in at the close Friday for the next week’s open. So if it closed at 2.10 Friday then the market makers expect they will open it at 2.10 the next week, but the vol isn’t really 40 on Friday, it...

I guess it depends on what numbers we are talking about: notional value, market maker haircut only, exchange only, including OTC, etc. Those numbers will be significantly different depending on what you include and how you calculate it. However your blind guess would not be in the ballpark...

The only infamous (I guess that counts as famous) option trader I remember was a pit broker named Steve Student. The only broker to never have a trade in his error account – he just made the market makers take them.

My apologies then, based on his PM to me entitled “My battle with atticus” I just assumed he was referring to you in his snide post. Then he posts again insinuating that I said something negative about you, when in fact I wrote something positive – along the line of you know a lot and...

You are one, and I believe I am supposed to be the other. I sent him a series of PMs to try to help and get him to understand his dilemma better. I gave him suggestions as to how he could get beyond the debate as to whether he has been truthful with his track record and accounting, and get...

You have already been given the answer but seem unable to comprehend it. You are completely misguided by thinking that one maintenance margin number is best for retail traders and would require less work by the broker. One margin number would mean that a trader with just enough money can put...

80% loss so far, looking good. Before you reply with something like “no big deal it was only $59” you should realize how ridiculous that sounds. Why start an entire thread for a $59 trade other than to hope to get blind lucky and have some big % gain and start 3 more threads with your...

That is not normal, but if you have a lot of stuff open, pulling a lot of quotes with only 1g of ram that could be an issue. I would recommend calling TOS tech support – if you have the time to wait for someone to pick up – and they can help you check a few things. One would be the...

You need to define that a little better. The whole program freezes, for how long, just the charts freeze for a second? If you are occasionally seeing the charts freeze briefly while the quote still updates, then that is normal for TOS especially when things move quickly.