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Just went to the website to check on Futures Options. The only order type available are limit orders (GTC and Day Orders). This is not good. Also, no mention of comissions for FOP's. I think I would hold off on trading FOP's with TOS until they either get the bugs out or until they match up...

One last question and it is a logistic question. I have never been subject to an assigment of any ES futures--I have usually closed them out or allowed them to expire OTM. I know that the April options expired as of 4:15PM ET yesterday. I am long the ES and I have an ITM call that will be...

Week 2, May08 short straddle update. The ESH8 closed at 1415.75. The P1385 closed at 7.25 and the C1385 closed at 38.00. My maintenance margin is $12,108.00. To date, the straddle has gained $1,666.00. To recap, I am doing an unbalanced short straddle--3P:2C.

Would you sum up your positions and when they were placed as of Friday, May 2? It would be easier to follow your progress and thinking. On Friday, the high for the ESH8 was 1427; so, I assume you did place some ATM calls. Did you go with naked calls or did you do a bear call spread? Do you...

Looked at GO; went with Global Futures. They gave me, after discussion, the same commission rate as IB. The customer service is top-notch. The FCM, RCG, is one of the best in the business. I use the RAN platform for trading futures options and the J-Trader for trading futures. Both platforms...

I would go 3-5% OTM to purchase the puts. That is where most money managers "shop" for insurance. Also, you did not mention the instrument, but most managers look at eurodollar futures, for they are the most liquid.

His application was approved this AM.

This is an excellent comment. An IC comes with more insurance and less profit and more margin requirement; a short straddle comes with less insurance, more profit, and less margin required. I have done strangles, but no Iron Condors. I didn't do well with them, especially when the market...

I also have a sliding stop loss that I use each week. During week 1, it is 50% (of the total premium); week 2, it is 40%; week 3, it is 30%; week 4 or week 5, it is 20%. So, in other words, suppose the total premium received is $6,000.00. I am willing to risk $3,000.00 to make $6,000.00...

A number of good points. I did a check the NFA website; there are a number of offenders, with various crimes, that were eventually accepted for CFTC registration and NFA membership. These are people handling your money and making trading decisions. I can't see how drug-related offenses can be...

Bump for comments from Interactive Brokers representatives. Thanks.

How about writing LEAPs on good quality, high-dividend stocks (DOW, S&P components, ie)? I have messed with covered calls for seven years. I was most successful during the 1999-00 period when call premiums were ridiculously high. Of course, if I bought the stock outright and held, I would...

I wish to report a new short straddle for the MAY08's. This time I did an "unbalanced" short straddle. I sold 3 P1385 at $26.75, and I sold 2 C1385 at 25.50. Total premium received: $6562.50. Initial margin for the trade: $17,296. My profits will improve if the ES settles near the...

Quick question: What is the advantage of legging into an IC? It seems you will lose some time value waiting for the ES to pull back. Then what happens if it doesn't pull back to your predicted level--you lose the trade. Also, what happens if the ES only pulls back to 1370 and not your...

I know of a number of individuals with a criminal history and have accounts with IB. So, according to you, IB needs to go back and run a criminal background check on all accounts. And anyone with a misdemeanor or felony should have their account closed. This is ridiculous.

That thread deals with financial and moral turpitude related crimes. My cousin's is non-violent, non-financial drug-related, and he received probation. So, obviously, he is not a danger to society nor is he dishonest.

My cousin submitted an application to IB on Monday, April 21, 2008. He received an email asking about criminal history. He promptly responded (non-violent, non-financial, not involving moral turpitude crime and received probation). I thought this was unusual, for I know of some IB clients...

Final short straddle update. To recap, on March 20, I sold 1 P1325 @36 and 1 C1325 @39.25. Initial margin was $6500.00. The total premium received was $75.25x50=$3762.00. During the period, the highest paper profit was about $2300.00. On expiration Friday, the total premium at settlement...