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And I said quoting a two-sided market, retail traders are not allowed to do that.

DonnaV is right, it is an Iron Butterfly so you can use the Iron Condor from drop-down menu and then change the strikes.

Buying on the bid, selling on the ask, quoting a two-sided market.

You risk/reward sucks. You are risking $29,800 (37,800-8,000) per contract to make $200, which will be eaten up by commissions and cost of carry. Nothing's risk free!

As I said, I don't know how hard or easy it is to get approved for a newbie as I wasn't when I opened an account at Thinkorswim, but I suspect it is not harder than getting approval at say Optionsxpress. After all, as I said, the key is that Thinkorswim understands risks and manages them...

I have no way of gauging how easy or hard it is to qualify for options trading at IB, Thinkorswim or OptionsXpress reltaive to each other, but Thinkorswim "prides" itself on the fact that they understand risk in options and thus can allow each person who is approved for options trading to trade...

With thinkorswim and ib why would you need anyone else!?

Amen, IV_Trader, I'm out of this discussion.

OK, let's take this one step further, options are a negative sum game for retail traders because of commissions and bid-ask spread.

oh boy, this discussion is really going nowhere. Pure and simple, each contract in isolation is a zero sum game, end of story! A stock is not a zero sum game because the company can create or destroy wealth, end of story!

Hi, I got a question for anyone familiar with LME metal fuutres. From my reading I understand that the futures on LME are run on a daily basis. In other words, if I buy a 3 month copper futures today then it will settle in 3 months, if I buy it tomorrow then it will settle in 3 months from...

I can see Witster exploding by now.:D

How exactly would a seller buy a call option contract at a lower price in a bull market!? Forget about ponzi scheme, derivatives are contracts. One party against the other. What one party gains the other loses so it is just a re-distribution of wealth from one party to the other.

I totally agree, who cares what the game is, as long as we make money.:cool:

Companies can create or destroy value so stocks are not a zero sum game. Options and futures, on the other hand, as it has been pointed out, are contracts between two parties where one party gains at the expense of the other so there's no value creation/destruction merely a re-distribution.

Another one: CBOE And another one: Hoadley's

True, they are expanding the base though. Got e-mini index futures, plans to add more futures later on in the year..... Anyway, I'm not looking to start a debate about which one is better, both got their pros and cons, it's just a matter of preference.

Riskarb, I respectfully disagree. If you do some reasonable volume you can get the ticket charge dropped.

Contact TOS tech support, they are in the best position to help you and they will, so why waste time posting it here!?

And what others are trying to tell you is that none of the instruments traded in 1/50 or other "weird" fractions. Trading is/was done in 1/4, 1/8 and etc. and 1/4 is 0.25, which is far from 0.01.