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Let me offer some theories... 1. people who complain about service used to be traders there who for 1 reason or another left. Maybe they lost $ and were forced out. Maybe they had a disagreement over their managers over size limits, thermostat of the room, decaf or real coffee in the office...

I am a little confused about self clearing firms. I always thought you have to be an exchange member to be able to clear such as Interactive brokers (NYSE for equities) , GNI (CME for futures). I heard that Andover is self clearing yet I can't find their firm in the member sites of NYSE, AMEX...

Hans If I buy 100 shares of IBM, my commission is 1/2 penny for base PPLUS 1/2 penny for DOT routing right? That brings the total to 1 penny, why do you say it is 1/2 a penny per share? Kindly clarify.

Don't even think of trading index options until you know greeks in/out. They are unforgiving due to spreads and high $ amount of options. Read at least 3 books to make it stick in your grey matter. Here is my recommends... Mcmillan, Larry Natenburg, Sheldon and when you really find those 2...

If my broker execution system does not support OO orders, what is the difference if I enter regular limit orders above and below fair value before the 9:30 opening? My guess is the only issue about this "workaround" is that I have to furiously cancel my limit orders after the 1st couple of...

So what you are saying is that if the SRO's stay consistent with their definition of what an account should be then a prop firm should impose the nx 30 second rule on a per firm per stock basis else big mess?

Hi Bungrider i switched fro RQ to I Rt and am pretty happy with it. As far as learning curve if i were to scale it out with Ensign being 1 (hard) and 10 (Rquote) Investor Rt is an 8.5. Pretty robust formula engine since they have been around for a while unlike the new ones like RQ and SWP...

I hope the regulators don't subject the 30 second NX rule on a prop firm basis per stock but on a per trader basis per stock else there would be a big mess out in propland.

Does anyone here have any experience dealing with Protrader. They were bought by instinet and offer remote trading using gr8 software. Is the software ok for remote? I've heard that sometime great stable software in-house gets re-engineered for remote to accomodate remote traders and results in...

Robert. I just learned the past couple of days that some retail firms are already offereing bullets although on a case-by-case basis. i guess you must be a big retail customer to get this privelege. You would have to open 2 SIPC accounts 1 for your daytrades and another 25K for the bullet...

You are definitely doing an illegal short because you only liquidated your 1000 share long from your bullet leaving you 3000 shares shorted illegally. If discovered, there might be fines imposed by the SRO (NASD, NYSE, etc) Who gets the fine? That is a good question, some LLC's (actually I...

Ex. You think IBm is going to settle around 75 next month. So you buy 1 70 call sell 2 75 calls and buy 1 80 call . There are at least 8 different ways to do it involving puts/stock. Find an option book and read up on butterflies. It is a good limited risk spread that can be directional (since...

If you want to profit from an IV implosion , long flies are your best bet. Since no naked options are involved margin should be a non-issue. Main art is to guess which strike or strike(s) -(condor) to short.

calendars are long vega so if IV collapses you'd get killed

I spoke with a broker who uses Realtick and he told me that for their firm-NYSE trades are routed through ISI. I am a REDI user and my impression is that when I submit an order it goes straight to the floor. I always thought that routed orders only apply to NASDAQ stocks- i.e. to different...

Hi. I thought of a better way to capitalize on a bullish call and forecast implosion of Iv. Sell the at the money calendar. You get the long gamma and short vega. Sell it for $1 or more and if you are right you can pick ip up around 10-20 cents after stock moves away from your strike

I spoke with mgt about 1 month ago. Seems like a good firm , one of many typical option trader incubator firms which I define as follows--> Their typical hire is someone fresh out of college, good quant skills, decent GPA from decent school. Starts out as a runner/clerk/position tracker, gopher...

I did'nt think that far about the SSF and shorting. Can anyone explain to me who is going to get on the other side of the arb when some big fund shorts the SSF? My speculation is that only the prop firm traders will be there since they would have the bullets to enable them to sell the stock...

Try putting on a condor or a fly around the zone you expect the stock to go up to. Depending on the skew and the IV levels you leg the spread at, it could be vega neutral than straight purchase of call. You can't also disount the possibility of IV going higher as long as HV goes up too.

Here is my take on this strategy. I might be way off so anyone can to counter a better explanation, I welcome it. Scene 1: sold call is closer and bought put is further out so position really is nothing but a buy write protected by a put. Returns are enhanced with buy-write and since closer...