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you can now sell the futures/spy out and have the vix calls on for free (trading .30)

Interesting play. Currently buying 10 VIX Nov 32.5 calls at .60 and buying 1 Emini Dec future at 1246 (alternatively buy 500 spy)

I heard there was a google of options bought on Google.

You may want to look at Options City software http://www.optionscity.com/ They are mainly used by marketmakers with direct access to exchanges, so I dont know if it is a viable solution for customers. But it is some really great software allowing you to do many things. Microhedge might...

Their are different rules for the different indexes, but apparently spreads can trade in penny increments (I see a number of spreads in the COB offered and bid in pennies) in the NDX even though the individual options cant. I do not trade the NDX. Some other examples are: OEX/XEO and SPX...

Are you getting spread legs filled where the individual legs are filled in pennies or are you getting single orders filled in pennies?

NDX options trade in nickel not penny increments below $3 and dime increments above $3. See the CBOE websie here http://www.cboe.com/Products/indexopts/ndx_spec.aspx

Yes apparently a TROLL after all. He is able to start other threads asking about out of the money calls (and never responds there either) but doesn't check back here after begging for help. My ignore list seems to be growing every day.

The deadline would be 5:30pm et Friday afternoon to cancel a prospective exercise.

Well, Gld up about $2 in premarket. What ended up happening?

You also may be able to hedge your postion with gold futures Sunday night, depending on the type of account you have.

When the puts expire in the money, they will be auto exercised by whom ever is long them unless the file a contrary exercise advice form

You are going to be long GLD. Normally you would expect to be long 1200 shares in this situation, but GLD was trading higher in after hours trade, so it is possible you will not be assigned on your entire short 12 lot. If you do not have enough money in your account to handle the long GLD...

I haven't noticed this, although I only have some small positions on. I also have a PM account. Our back office tells me that SPXPM is hedged against other similar products as well for PM purposes. Next time a have a more substantial position on I will check the margin.

Def, Just so you know, I wasn't sure whether to participate in this thread as it seems to be very confrontational, which is not my intent. I have seen both Timber Hills trader's and IB's broker's in action in the pits and have never seen anything that appears unethical. I understand that...

Hi Def, If IB is forced to liquidate a position, does the system pull out spreads or simply liquidate each position individually. For example say a customer has several option butterflies in a stock. Will the system know that they are butterflies and send an order to liquidate as a spread...

For your needs, I think it would hard to beat Fidelity.

I am guessing that since you are talking about inactivity fees you trade very rarely so the $7 per trade is not really an issue except for your annual rebalancing. So if you cut that fee in half with a new firm, you are saving $35 a year. I would suggest that if you are happy with your firm...

Check to see if your .15 a contract broker includes exchange fees. My guess is it doesn't. If thats the case add about another .45 a contract for SPX exchange fees.

I think you will have a tough time beating IB for price. TOS might be a bit easier to use, but they are also more expensive. I dont think TOS adds exchange fees to their option trading prices, while I believe IB does, so if you are trading in the SPX the commissions may be closer between the 2...