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Starting Aug 15, the CBOE will have Monday weekly options in the SPX. Looks like they are well on their way to daily expirations. So now we have, Monday, Wednesday, Friday and end of the month expirations in the SPX, in addition to regular expirations...

Of course pro customer status comes with much higher exchange fees and data charges. You also lose customer priority.

Thanks for the info

Would it be allowed if on different exchanges? Bid on CBOE and offered on BATS for example?

If you are trading smaller quantities of options you can ask TOS to waive the ticket charge and charge you more for each contract.

Its the exchanges that are making the money off of the exchange fees, not the broker (of course the Broker also may be getting paid for their order flow by routing to specific exchange). NBBO keeps you from getting a worse fill from the best bid/offer, but it still requires you to pay the...

Yea, the problem with this is if the offer is on another exchange and you try and buy it with this tag on the "free" exchange, your order will be cancelled so a crossed market wont occur. I find that most of the offers and bids that I want to trade are on the expensive exchanges.

Just started realizing how crazy the option exchange fee structure is. In the past I mainly traded the SPX and resigned myself to an additional .50 to .65 cents a contract in exchange fees. Recently I started trading equities more and was just hit with a huge end of the month bill for exchange...

The problem with routing to the an exchange that doesn't charge a customer exchange fee, is the offer or bid you want might be resting on another exchange that does. For instance there is an offer on the BATS at 1.11. You bid 1.11 and route the order to the CBOE. The CBOE market makers don't...

I personally don't think any "one" strategy is ever worth doing blindly over and over. Whether it be selling iron condors, buy writes, etc. You give up edge getting in the position, and if you assume the options are fairly priced you will lose in the long run. Some strategies will make money...

Good point, Sig. Would agree

Actually the worst case scenario is not a drift to the 1690 number, but a spike there. The closer you are to the expiration of the 1690's the worse it will be. The spike will blow up the volatility in your short options which will hurt you much more than a drift there. How much is at risk...

You are short a put vertical and short a put time spread with the above position. Your risk is far more than you think as the time spread could expand significantly. Your risk is a large selloff, as you are long deltas with this position.

You can go to the CBOE web site and get slightly delayed quotes on the weeklys for free. http://www.cboe.com/delayedquote/quotetable.aspx Click on the "all option series button"

If you're trading options vs options or options vs stocks, your capital requirement will be similar in a customer pm account and a prop/jbo account. Both are mainly concerned with movement risk. They will take the stock/index up or down a certain percentage. The prop account would be more...

Still a couple of them out there. Sumo Capital being one of them. For almost all people its really not worth it joining one. I recently closed my account and am now all customer.

Just to note, this is the same way the "regular" Vix determines opening price on settlement. So if you have a Binary Vix option hedged with a regular vix spread there is no settlement risk. In fact when they traded more, I would often have these spreads on. It was a great play for instance...

Binaries on the VIX are traded on the CBOE. They used to offer binaries on the SPX, but that product was delisted several months ago. Unfortunately there are a limited number of brokers that offer trading on this product at the CBOE. Not sure who currently offers them, although most front end...

The symbol for the different strikes is Dust1 on my system, but all appear in the DUST master quote.

Yup. On my system they are separated. .50 - 3.5 strikes are the smaller contract strikes.