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so Pekelo you are saying risk $10 (+ commish) and stand to make ~$220 if TSLA settles at 345 near expiration? or better yet in about 3 months, re-visit the position and stand to make about ~$30 (3x your debit) IF TSLA between $320 - $350 ?

Just be very careful with any process involving the exchange of sensitive information. Be vigilant ... it is nasty out there with all the hacks,etc.

so.. for instance, the $-262.5. This means you opened a position and currently is down $262 from last night's closing prices. The next pos down which is +$3.9k shows that you are making $$ on it BUT is giving back $312 today. The dayPnL is useful because it is marked to market from last...

P/L Open is current market price - your entry price P/L Day is for open positions and = current price - yesterday's closing price. P/L YTD is p/L Open + p/l Closed trades. I look at net liquidating personally so I might be slightly off on the above explanation so other seasoned TOS users...

the monitor page has several modes - activity and position, acct statement,etc. Where are you seeing these brackets. and I assume you mean parenthesis () not brackets which are [ ] ?

Start off your journey by building a base of options101. Books by S Natenburg, L McMillan, then hit the great webinars by Option Industry Council, and countless free stuff from 3rd party vendors (like me) then move on to intermediate books by C Cottle. M Sheridan AND Jeff Augen....

to add more confusion, throw in the skew and the absolute levels of IV which could make the theta difference between the strikes even closer. IOW if IV is crazy high, every strike is ATM.. sorta...

What is fascinating to me was the tape action when there was a specialist. He would show size at "figure" like 89.97 x 90 50 x 999 and all the bids back off after the 1st "show"and after trading some at 90.. then lots of churning below, then the big prints come in at 90 and bids are not...

In addition to works by P Steidlmeyer regarding volume profile, there is another piece by Bill williams called Mkt Facilitation Index (MFI) which shows the interplay bet volume and (Volume and range expansion and the 4 combinations of the 2 elements really does a good job in explaining price...

interestingly, i did pretty ok with calendars at Brown and company at $10 per trade !!!! now what is it like ...70 cents/share..

Great point Bob. I would teach #1 and show track record if 1) the price is right and 2) won't dilute execution edge. In fact I saw a site that sold signals priced at $x an hour after seller traded on signal and $3x in real time.. or something like that.

In the interest of transparency, I do agree that there has to be some semblance of competency in the form of trading records. Like if I was a teen hoops player, I would'nt mind taking direction from a former d1 player, (doesn't have to be an ex- NBA player).I had,weeks back ,tutored some people...

dunno the answer to your question BUT I'd like to ask you, if you are good in predicting realized vol, why would you choose to take directional bets only on the asset. Why not use other instruments that fit your ability? There are traders out there that are good in direction, others in...

Tom is right .. preserve your capital,trade small and learn... then size up accordingly. In your earlier example, the delta of .34 is the delta at that time, at that price.. as SPY moves up, the delta increases due to gamma at it gets closer to strike , your .34 will be get higher ..but...

IQfeed is cheaper.

just occured to me that we may be assuming that he shorts 2 puts then puts on the 3 wings - maybe that guy puts on a -1:+3, waits for a small downspike, then sells the extra put turning into a -2:+3- that I would do!

TD, good catch on the put skew in US equities. Totally missed that one which would make the pricing even worse for the put b/spread.

Traders have done that forever- legging into spreads by exposing the position to 1 greek risk to get better prices. eg. Theta risk - selling a straddle, hoping for a quiet 3 days, then buying the wings to bring the entire graph higher. Gamma risk- shorting a fly, hoping for a big move in 3 days...

oh that diagonal...! that would definitely work :-) ... I have not been able to predict up or down spikes > 55% on a portfolio level so I tend to stay away from spreads that incur big debits. That "reverse" diagonal you have incurs a big debit vs. OTM put calendars which are "teenies"....

yes you are correct if they are equidistant.... BUT with diagonal designed to harness a bearish prob distro, you would be selling an OTM p/s with a put calendar.. XYZ=100 being long a 95/90 diagonal means you are long 90 calendar with an embedded 95/90 short p/s on front month.Now , if you...