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Adjust. If you want to trade options for living, learn art of adjustments.

Actually yes, there is. I don`t want interfere a lot with verticals only, as they are only a part of my strategy, but some other techniques are welcome.

2cents, thank you for the insights. What is your opinion about FCMs introducing CTA through its Introducing Brokers network ?

cnms2, I know what you mean. There are piles of materials, books and other resources stating that. I experienced that on my own back, wasting a lot of time. As about IV, agreed in some sense - but using them directionally is like using your PC for watching nice pictures only. It works, but...

Let`s add another one then :D I think debates that 6 weeks is better than 4 etc. are just misunderstandings. Why ? The answer is simple: it all depends on your strategy. I use to sell S&P options about 100 handles OTM about 4 weeks before exp. in my previous program because strategy was...

OK, what`s the opinion ?

I trade options (among many other reasons) to not getting concerned about such issues. And - I always place the best trades when overall maket sentiment is exactly opposite at the moment. As for APR - most of my profits are already taken and vola is low. I know I trade longer time frame, but...

Futures had something to do with 1987 crash ( by description found in "Buffetology"), however exchanges applied restrictions thereafter.

Diagonals can give you some profit, then you may convert them into flies, boxes, verticals at expiration fishing for some more, depending on how far OTM you are.

I am looking for PDA online service for trading purposes while travelling around Europe and US. So far have checked Vodaphone, looks good. Any additions/opinions greatly appreciated.

Well said. As I trade options this issue is common. Sometimes talking about nothing, sometimes pretending...mostly pretending ;) HNW are usually better regarding this problem - hard to deal with DD, but they mostly do not pretend they know if they don`t :D

You just need something when first series expires, as you`ll see advantage of this postion in few days thereafter. There are actually few standard adjustments covered by Cache and Coach which work very well with this scenario.

cnms2, right, like anything in life, always tradeoff, nothing for free etc. I did not say to hold it until expiration. I meant to start whole trading process with it, then watch, adjust etc. Sorry if it sounds sarcastic, it was not my intention.

Right, actually "calendar" ratio spreads kind of diagonals.

Would be an exaggeration to ask for the name of the firm ? Would they mind to get some more business ? :)

I had had similar experience with them some time ago but the end of the story was quite optimistic, as I started to do the opposite. Try it sometimes and see why backspreads don`t work :)

Thanks for this tip. Vey useful :D So looks like IB is wrong. I was suprised myself when I found it. Now I`m shocked. I don`t think small print is an issue here, as we are dealing with misleading information.

Yeah, I`ve seen it. And I don`t think IB would put such massive misinformation neither. I`ll try to clarify this with IB and let you know.

Coach, Globex ES options are European style e.g. APR1315 checking directly via TWS: http://www.interactivebrokers.co.uk/contract_info/index.php?action=Details&site=IB&conid=37791317&detlev=2&sess=1142957720

MTE, got it, thx. Do you think index options might be changed this way in the future as well ?