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No, develop your "own" valuation model, that is the hard part.

I think I figured that out too...

We gave up our seats, the view is better upstairs. Do you know what a professional data feed, multiple T1s and PTPs add up to a month? Customer fees? Infrastructure costs? A lot more than $200K to buy a seat, or $1.4K a month lease. Since we have an active member of the CBOE here; why...

MSKL, 1) Referring to either: a) market is 5 X 5.5, want to sell @ 5.4, hit buy @ 5.4 instead, entry error, get filled between spread but net result is doubled up on position, $400 loss on 10 lot. b) want to buy 10, buy 100 instead, entry error. Both examples are the costs of doing...

MSKL, Do you work for the CBOE? The last time I had a discussion about these issues argued so fervently with the same slant as this was with some CBOE members.

Makes life interesting when working on a Saturday.

MSKL, 1) I am not sure where you got that example out of what I said; I would agree with what your point, but can not relate it to what I said. 2) Don't think so, you may be missing the newest kink. 3) Disagree in the majority of cases. 3a) Their seat prices have completely tanked...

I would think you would do better; after you pay a little tuition.

I am not sure if they would let you put on another position if you fell below $2K, probably not.

QUOTE]Originally posted by mskl I don't agree that an Exchange should be obligated to fill the quantity without exception. THAT IS INSANE!! (Even I would never expect this). Disagree, they post, they should trade it; i.e., futures markets. We are all big boys, if I send in an order...

That means you can buy one, then sell one, making you flat. Then you can repeat the process as many times as your finger can hit the mouse, unless you go below the $2K margin. You obviously could also sell first and then buy.

Are you aware that there are 3,000,000+ crossed/locked quotes in the option market on a typical day? Some strikes cross/lock 500+ times a day; and some strikes are locked/crossed for hours. This is not an accident; the MM will keep these strikes locked/crossed allowing the orders to kick out...

Exactly which rule(s) are we violating in your mind? You actually got that right, the edge is identifying inefficient markets and the experience to capitalize on it. What makes you think we don't?

Person reading the prices traded in the S&P pit, with commentary.

Give them time, you never know...

I think he is crazy, but I am not your accountant.

It was so slow, we shut down and all went out to lunch; and that only happens about once every other month.

Quiet and a slow market...

Motas, Here is my two cents: 1) take your size down to 100 shares; 2) quit reading about multiple styles and focus on the style that brought you your profitable trades; 3) change brokers, I would say Terra Nova, not IB, you need some support; 4) think of it as tuition.

Motos, How many trades have you made?