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That's why I said if you have the time. It really depends on what you are trading. If you are trading options such the are moving quickly, I agree with you, smart routing is probably best. I tend to trade a lot of back month out of the money puts where time is not of the essence. Here my...

I have found that I am generally better off not using Smart routing, if I have time. I will send a 1 lot to the CBOE where there is no liquidity rebate or charge. Once I establish the best price I can get, I will then send another order to an exchange where a high rebate is paid using the same...

My info is a bit old, but I have Emerald, Pearl and Arca at .85 per contract in non penny optionable. Better than GEMI

This Your order was filled on the GMNI exchange, which I believe gives .75 per contract for adding liquidity. Not sure if IB passes on the total amount, but this is why you had a commission credit for the trade.

Thanks

Lex, What additional fees are there for trading options, exchange fees, occ fees, reg fees, etc. Do you allow trading in the single listed products such as the SPX and VIX and do you pass on these extra exchange fees? Thanks

Good point. I think if you bought the .5's yesterday they are a great trade vs. a long term hold. As I mentioned they really blew up yesterday, pricing better than a 50% chance of liquidation, I actually sold my longs out and went short them. Buying back today and going long them again as...

Current short interest rate is 18%, you run the risk of the rate going much higher or becoming unborrowable.

The December 22 .50 puts were trading .25 today. That's essentially saying the market believes there is a better then 50/50 chance of liquidation (if you think there will be some value left in the fund after liquidation) or that 1 current share will essentially worth zero through reverse splits.

Since USO is a proxy for oil using oil futures, I think there is a real risk of it being liquidated. Might be worth buying a few 1 or .05 puts if you can get them cheap enough. Seems like the market may be underpricing this outcome, although with oil down big again today, the opportunity may...

I wonder what the average account size is there?

You were right, very quiet opening, not much size compared to last month

Last months could have had a Ronin effect. Extremely large size on the put wings, over 40,000 of each strike to sell. Follow along tomorrow morning here https://markets.cboe.com/us/futures/market_statistics/volatility_settlement_eoi/

Hard to believe this was 6 years ago. Trading the VIX settlement is still a thing.

Bob, what is your current turn around time, if all goes, well from application submission to full permissions?

Its possible, but not likely. Say you buy a synthetic where you buy the 50 calls and sell the 50 puts. If the stock closes exactly at 50, neither side would be automatically exercised. The holder of your shorts would still have the option not exercise his options, so even if it the stock closed...

That's a $240 move in gold, right? Seems a bit excessive.

Could be a Robinhood issue. I would say the spread is worth at least .50 Not sure how they route their orders. I will look at it again when the market is open tomorrow. I would strongly suggest you move away from RH. With a broker such as TD, you can route a spread to a specific exchange.

You are long the 19/18 put vertical? Yes this definitely has some value. Just because there are wide quotes on the individual options, it doesn't mean the "real" market on your spread is not much tighter. If I were you, to get out of the position, I would sell it as a spread. Start at .70...

Robert Morse explained it perfectly, generally you never put in market orders for the opening. As he said you will get the market price on the exchange that order is sent to. Depending on the exchange that market could be quite wide, far wider then a market on another exchange. If you wait...