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Liability for systems breakdown. Higly unlikely. Check out the fine print of your agreemtns.

Any thought on a firms migration from IB to self-clearing? Sign of weakness (their clearing agent for whatever reason is willing to lose their business) OR sign of strength (purchase own systems for clearing ,be a member of SIPC,etc) Who is next?

So you can attempt to buy on bid, get hit, hedge, then flip and sell on the offer, get hit , hedge . Rinse lather and repeat as long as you are not BOTH on the bid/offer at same time? But can you be on bid at exchange 1, be on offer at exchange 2? so in effect you are market making albeit at...

Buying on the bid/selling on offer,get a theoretical edge then hedge the underlying, doing it enough times during the day to generate decent , stable returns.

Hi Meteoxx. The style would probably be position trades like long calendars (maybe some directional bias) when vega are on the low end of the range of instrument. Credit spreads when skews are big. Vol spreads before earnings. Position trades lasting 1-2 weeks and a some outright bull/bear...

So are there any option prop firms around that cater to remote traders who can bring in capital? - much like the LLC's here that primarily caters to stock traders?

Try optionstar for around $220. plus thre are a lot of free ones from CBOE, brokers,etc

Thanks meteoxx and cracked. I guess to sum it up. Use SMART unless it is Philly -and if you need to use PHLX submit and cancel to start the shot clock. Right? It is unfortunate that in this day and age we still have to play these games. Thanks again!!

If SMART routing always directs your order to the best bid/offer. Is there a reason why a 5 lot trader like me would chose to self-direct and pay almost twice the commish. What circumstances would merit paying the higher comm for a 5 lot order? Another important question is when should I not use...

Would'nt the major component(s) of the etf OR the etf lead the index and not the other way around as you suggest?

I called TS Friday and they confirmed that Optionstation is only for non US. They might incorporate features of it into the new release of Tradestation 6 so we will see. BobbyMercerFan-do you mean you bought Optionvue and have not been using it? I can buy it from you. If interested private...

LEt me clarify I was with a prop firm wherein I deposit $ to trade remotely. The only disincentive for me in taking a lot of days off is when I trade less than 400k shares per month, they will impose a desk fee of $200 ( I think) not to mention I don't make $.

Bigscalper. I agree w/ some points you make as I've sometimes voiced my opinions on some of the bad things about prop firms. I used to trade prop and the reason is because their commission and costs tended to be less than retail. It is only the past 2 months that I noticed that retail is...

Are there any other options on the ETF's that are liquid, good interest other than the QQQ's. Any experiences would be welcome such as routing issues (i.e. stay away from this exchange,etc).

I trade option for longer term plays , vacuum, do the laundry, iron, retile my bath,etc. then I miss the big move and get pissed the whole weekend. I better stick to games and elitetrader. Have a great weekend.

if stock is at 50 and you want to sell at the money call by selling the 50 buying the 55, you'd want a sharper skew towards the puts (50 higher than 55 IV) and high vol since the spread is worth more with high vol than low vol. Just remeber ATm options have highest vega so you'd always want to...

You are right ! The broker may not realize it but you are buying the a/b call spread and selling the b/c call spread which is a fly. Unless he is trying to leg you at a better price with another form of fly (iron fly or gut I think) either way the profit loss characterictics are similar. Your ...

Sorry Don should've looked at your posting date. I too paid up to 90 -high of the day. I guess main lesson is that when news is out maybe not get too agressive on the fade? especially considering where HD has been (from the 50's) thanks again

Don, could you explain how you got out too soon with HD. The opening print is 30.40 and maybe a couple of prints below that around 35 so no big profits. After those little prints it screamed to 30.90. Would you have sold the opening print at 30.40, watch it go to 30.90 and still not cover ...

Call and put at same strike would /should have same or close to same Iv due to the conversion reversal. Ex june 80 c Iv close to Jun 80 put IV else arbitrage exists/