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simple and options don't go together well. Like other people will say: read some books like Natenberg (Option Volitility and pricing strategies).

Giving us money to trade would be nice :)

Frankly Nomoreoptions, who cares what you think or what you did or didn't do? Go and seek mental help, you need it.

I'm using IB at the moment and I'm trying to trade more or less delta-neutral, however they don't give you a haircut like on the floor. So I'm also looking at another deal. I get the impression you can do options with pro-firms like echotrade, but think (from reading their manual, I could be...

Not so sure that is the solution: in the electronic world you better be right about your vol, because the spread is so small it seems hard to make a living out of it except for the big financial groups who can offset things over many stocks. Not sure there is a place for small locals, or am i...

I like the idea of trying to get an edge off-floor and remaining mainly delta-neutral: i'm doing something similar in a different stock. Beware though that this way of trading hasn't got a long lifespan anymore: just look at the way things are quoted on Eurex: in pennies so there is nowhere to...

Forgot this one by Allen Jan Baird: Option Market making

It all depends a little bit what you want out of these books: Sheldon Natenberg is a classic. For more advanced stuff you might also have a look at Taleb: Dynamic hedging: managing vanilla and exotic options. By the way, what did the guys on the floor advice you.

Thanks for all the info: i called first options (Philadelphia) and they informed me that the minimum requirements for new traders is 150.000 USD.

I know options trading is moving towards electronic trading but meanwhile i'm contemplating to spend a few years on the floor. I do know the greeks and have worked as an market maker for an institution in Europe. (Been living here practically all of my life, I was however born in Philadelphia so...

maybe you can start another thread referring to this one ?

Seven times in a row now, it takes forever for my order to reach te market. And yes these options were between bid and ask (DIA-options), nevertheless seems strange ... more like someone holding back my orders, or would i be too paranoid thinking this ?

Seems everytime i see something that interest me, i try to hit it, i see the color turning green, suddenly the bid dissapears and a few seconds later my offer comes in the market. This happened 4 times in a row allready today. Seems like they are adding additional challenges in the market ...

Nitro, I guess you wrote your own software for scanning, could you elaborate a bit on how you did this ? Isn't the problem with scanning options not also with what you put into your models ? (Vol, dividends, skew ...)

-------------------------------------------------------------------------------- Quote from mskl: It is pretty cheap to set up a B/D and you can even trade as a remote M/M. (The PSE and BOX will have remote market making)...

I don't do both at the same time, but I can be at one side of the market changing my quotes as the underlying changes.

How much money is needed to start as a market maker in options on the floor ? The reason I'm asking is because I am sitting a lot on the bid and the ask of options and try to hedge my risk away in the underlying, but now with the new rule change at IB for canceling orders I think my way of...

Aphie, sorry to dissapoint you but the idea is not so original: read the predictors, you'll see it is allready being done for a long time. http://www.amazon.com/exec/obidos/tg/detail/-/0805057579/qid=1037379494/sr=8-1/ref=sr_8_1/103-7494140-3623001?v=glance&s=books&n=507846

No matter what some people say the majority will confirm that IB is a good broker and very cheap. No handhelding here, but that was never the intention. The issue about PDT can hardly be considered their fault (although communication concerning this could have been better). The NASD should be...

don't trade !:cool: