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Thanks Rmorse, this is very helpful. This is the first year I am trading completely through a customer account. I was told by my accountant that I had a choice of being an investor or trader as a business. He thought that I would owe self employment taxes if I treated it as a business, but...

The Cboe just announced that they will list new Wednesday Weekly options in the SPX. http://ir.cboe.com/press-releases/2016/02-01-2016-165546551.aspx So now there will be two weekly expirations!

When putting on this type of synthetic to short a hard to borrow stock, you should be long a deep in the money put and the same out of the money call. This would keep you from being assigned on your short call, as ajaobson mentioned.

One more thing to add, if a stock is hard to borrow, you may be better off doing this trade rather than buying the stock. When you buy a hard to borrow stock you are giving the "value" of the long stock away to your broker. When you synthetically buy the stock by buying the call and selling...

Yes your strategy is correct. Your risks are basically what Rmorse mentioned. How much over fair value do you "give up" when entering the position. To minimize this enter the trade as a spread. Slowly change the price until you are filled. If you have to give up too much edge, don't do it...

I have heard that Daily options are again being actively discussed at the CBOE. I will try and get some more information.

Agree with rmorse. Many, Many platforms better then Redi and I have had Redi as a backup for many years.

If the spread is left on overnight, it will have almost no effect on buying power. The problem is with daytrading and it may be unique with Apex, not sure of that. At one time they would waive the pm call if they saw it was a hedged position. I once day traded a $1000 box with them 10x and...

With a PM account you deal with day trading buying power with option prices. There is no leverage over capital as there is with day trading stock. So for example in a PM account you have $100,000. If you buy a $5 vertical in the SPX for 4.9 10x, where the prices of the individual options are...

I don't think I would go the JBO route. You will have to have the series 56 license. Your money will be locked up for 1 year. You will also have extra costs with this designation, (higher data fees, higher exchange fees). You will also not benefit with customer priority on orders. You will...

My personal opinion would be to start with a PM account with Think or Swim. They will want 125K to start, but after you open the account it can fall to 100k. They have some pretty aggressive promotions now giving free commissions for x amount of trades, (they will wave the ticket charge)...

Really depends on the volume you will be trading and the capital you will be depositing into the account. If you give us an idea, you can get some better responses.

Cash settled options offer a lot less risk when they go in the money. You don't have to worry about getting put stock, everything settles for cash. Your only risk, as rmorse points out, is if you have a different hedge at expiration then the expiring options.

Yep, trading today. Regular October monthly is the closest expiration, but Oct 28, Nov.4th are listed today.

They new VIX weekly options started trading today. The futures started trading last month. These are different from the old weeklies that were delisted.

Consider too what options you will be trading. Some firms include the exchange fees in your rate and others will add it on. For example if you are trading the SPX or VIX options, the exchange rates are around .50 per contract, so this could be a substantial addition.

I think the main reason is to protect the DPM/market maker. They were having difficulty shifting their pricing programs to reflect parity at 3:00 which resulted in them being picked off by buying or selling under parity.

Actually all of these products expiring options used to trade until 315ct. The change was made a couple of years ago to the SPX weeklies and the XEO quarterlies, which in my opinion is a mistake. Although the SPX weekly settlement is based on the closing price of the underlying components, it...

With the exception of OEX and XEO which continue to trade until 315ct on expiration day (except for XEO quarterlies)

I will jump in this thread too. Thumbs up to Bob! An asset to Elite Trader.