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I also do not think that you will have a problem getting an execution with QQQ options (assuming that you are trading as a customer and not as a broker dealer or market maker). Unlike the other index options (SOX, SPX, OEX, etc), the QQQ are multiply listed on all 5 options exchanges. In...

You do not have to worry about borrowing like you do when you are shorting stock. Sometimes using options is the only way possible to short a stock when you cannot get a borrow.

Another good thing about options is that if you are a customer (not a broker dealer or market maker) and the market is not locked or crossed, you can get at least 10 options done (more depending on the stock/index and the market maker/specialist unit).

Make sure that you guys do it right: (1) equal parity to broker/dealers, market makers, and customers based on strict price and time parity (3) fully automated (i.e., no turning off the system for locked and crossed markets) (4) allow customers to autoquote if they want to (5) allow...

What usually happens when a parent tries to buy up the minority shares of a child outstanding, the stock will trade above the value of the bid. Most of the time, the parent has to pay more to make the child happy. Past example. TD buying out TWD (cash) and CSFB buying out DIR (cash)...

I think you are probably OK if you are trying to split markets. In that case BEST works pretty well. However, if you are trying to pick off something or on something that is moving fast and want to hit the bid or take the offer, in those cases a direct approach is the way to go. The other...

You can see Knight's retail limit order book during market hours. http://www.knight-sec.com/disclaimer/bookWelcome.asp _______________ Welcome to NITE Book - The Display of Knight Securities, L.P's Limit Order Book NITE Book provides a real-time view of Knight Securities'...

Press Releases Release Date: 02/14/02 NYMEX, CME PARTNER TO OFFER E-MINI ENERGY FUTURES Cooperation Agreement Includes Cross-Access and Cross-Margining Nachamah Jacobovits Ellen G. Resnick New York Mercantile Exchange Inc. Chicago Mercantile Exchange Inc. 212/299-430 312/930-3435...

You are absolutely correct about exercising in the money calls is not optimal under ordinary circumstances. The problem we face, though, is the retail margin requirements. For example, if we do a 10 lot 95-100 bull put spread, and we deposit $5,000 to cover the margin requirements. Let's...

You need to directly route the order to the exchange that has the low offer. I never use BEST for options, I just route it to a specific exchange.

You are wrong about this being a waste of time. Some stocks cannot be shorted at all. If you are long an in the money option, there is no way of liquidating the option position without being ripped off by the option market maker. In addition, if you have a spread on and the short side gets...

Is it possible for IB to implement a way to exercise options in the TWS? This would be great because: (1) Positions would be updated immediately instead of overnight (2) Don't have to send e-mails Thus, it would be much easier.

Island trades more QQQ than the AMEX anyway. http://www.isld.com/qqq/ Plus, I am sure the Susquehanna will do anything in their power to benefit themselves (i.e., I am pretty sure that some of the option rules such as market making, turning off autoexec for locked and crossed markets are...

Hey at least the people in Hong Kong no how to do business: (1) nice lunch break in the middle of the day (one hour or so of no trading compared to no lunch break in the USA) (2) nice way to celebrate the Chinese New Year (a few days off instead on just one day in the USA)

Yup, Dan was a real loss for IB. He would get things done immediately. Plus, he had a brain and could figure things out. Hopefully, IB will find others like Dan sooner rather than later.

Essentially the automated options exchanges are the ISE and the P-Coast. If you put an order in between the spread, you will change the quote immediately. In contrast, if you are trying to split the spread on the CBOE, Philly, or AMEX, the crowd/specialist will see your order and will decide...

Actually, the CBOE through its CBOEdirect platform trades RUT, DJX, and OEX during extended trading hours (8:00 am to 9:15 am Eastern time). http://www.cboe.com/common/pageviewer.asp?file=20011221.doc&dir=acnews&head=news%20announcements&sec=7 news announcements FOR IMMEDIATE...

If you are using an Excel linked spreadsheet, you can just copy the cells down and modify what you want. Faster if you can live with this format instead of the traditional TWS platform.

Quote: I think that the specialists should have a pretty good idea of the brokers who represent the different funds. If not, they still must sock it to the large block traders as per the Value Line case. Any ideas as to when and what the Institutions are doing? JJ ____________ The...

Specialists do not know the identify to the buyer/seller (unless it is leaked to them). They just know the name of the broker and the type of order (i.e., Goldman is a buyer of 250,000 market go along or CSFB is a short seller of 100,00o with a 80.25 low).