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No problem - it helps if your broker does a decent job, but there is plenty of liquidity. Can be a lot more expensive to trade. SPX has a fee - SPY can have fairly good rebates.

Thoughts? Do the synthetic instead of the stock and the put. Buy a $220 call - it juices your return. Your premiums look rich, but without knowing more. Based on a guess of parity the $220 call should be about $70 - makes the $320 call look really rich.

Pay your quarterly estimated - worst case you catch up next quarter.

Reg NMS - or order price protection in stocks.

Lampost didn't use to be an HFT - did it change? It was pretty much an internalizer(like Madoff and the Cinncinnati Stock Exchange before decimalization) and a router - both of which you can get paid for. None the less you can't violate reg. NMS.

Andy's crowd ?

Once you get above $5,000,000 in equity the Schwab, Vanguard, and others will go to zero commissions. There are a ton of conditions and limits on frequency, but once you get to that level everything becomes negotiable. I think Vanguard goes to $2 a trade after the first 100 a month. You still...

Notional value - the multipliers are different. SPX is larger.

Most of the trading crew at CRT, O'Connor, and Susquehanna. Clay Struvee from that group still trades. Jon Jacobson (Harvard and Highfield - now retired). Blair Hull - also retired. Best tape reader Steve Cohan until tape reading became less valuable and yes he gets painted with insider...

The Securities and Exchange Commission has awarded more than $4.5 million to a whistleblower whose tip triggered the company to review the allegations as part of an internal investigation and subsequently report the whistleblower’s allegations to the SEC and another agency. According to the...

You've got to want it. Everyone started somewhere. It's not about rate of return or capital - it's about drive. I don't think a ton of successful traders - started out as traders. Go look at any of the Market Wizards or Supertraders books and you see many began in another profession. It's...

Russell Rhoads TABB Group Followed! | Profile | More Share Many futures traders use stop orders to limit losses when the market is not moving as they hoped. However, there are times when an option on futures order offers a similar risk-reward scenario without some of the uncertainty that...

Try LUPO in Chicago. Run by an old BOTTA guy.

It's old and the links are taken down. This related to both opening accounts and accepting orders. It's also why in the US a firm will require a broker to register in all the state and territories. A NY licensed broker has clients who vacation in Florida - his firm will want to become Florida...

If they suspect you are entering an order from a country they are not registered in - some brokers will kick it back. The nice ones will call, but you can lose a ton of time. Give you an example - Canada requires registration in each Provence, you are prohibited from accepting an order unless...

A federal judge on Wednesday dismissed a lawsuit in which investors accused the parent of the Chicago Board Options Exchange of letting anonymous traders rig Wall Street’s main gauge of future stock market volatility at their expense. U.S. District Judge Manish Shah in Chicago said investors in...

As I understand it Morningstar killed ILM around 2000. I believe what they are doing now is running an in-house AI. If you had one you could pretty much simulate anything that they had a database for. Sat on the desk - a big desk - and you could run anything you wanted. There a handful of...

Not a great answer, but there used to be a service that did this - you have to be over 60 and worked on Wall Street to remember. It was called ILM - Intelligent Learning Machine and the company was bought by Morningstar. They would even run your requested simulation by phone for a $$. It was...

"You are correct, but you are forgetting that there are many automated traders and that your broker also uses data feeds and order gateways. When I ask my broker - how come I see thousands of shares traded but none of mine filled - I don't want to hear that it's because they don't have same...