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The problem with covered calls or puts is not the high returns on your winners but the huge losers when a stock gaps against you, that wipe out your winners. Putting a protective put under them will take your yield down by about 60-70%. The erosion of returns due to positions hitting your stop...

They only work if you write them, own them and trade them.

Experience.

A 1 lot. No minimum for time to cancel or cancel fees. The cancel fees generally only effect traders using firms that primarily represent high volume, professional off floor traders with little or no retail customer base. Generally they are if the firm cancels more than 50% of their total...

Daven, I don't think you need to apologize, there are a lot of people in the community trading size and it is not as simple as buying 350 @ XXX. Is your friend a speculator or a spreader? There are a lot of traders moving huge size in calendar spreads that might surprise a few people. The...

I think the CBOE has or had a toolkit that might work.

Used them years ago, back then they were reliable.

If you stand in the pit and read the quote boards, the same quote information that is sent out, the pit will always trade ahead of the quotes. The lag depends on how busy it is, sometimes a few seconds, sometimes a lot. I would not say that either one necessarily leads, the arbs in the pit...

1) Yes it would be cheaper and the spread are better; try Terra Nova institutional, they just lowered there commissions, send me a P.M. and I will give a a contact. 2) Yes, you will love the liquidity. 3) Just as easy but faster. 4) E-mini are electronic, you know what you are getting...

Yes, same software. We just recently cancelled. We talked to GL about the API, not sure if CME, offers, but they do have FIX. Yes, GL Trade.

Third Friday.

We have been using GL, we don't like it, we are currently switching over to a FIX connection. Support from GL was good, we also used it directly from CME, their support sucks. GL sells an API for $20,000, it has a bad reputation, if you know what you are doing you can backdoor into it, but it is...

No, neither, we are a private trading group, with retail status, no regulators, trading our own capital, no investors. We lease a Globex connection, around $1,000 month. Black box traders, i.e. our "Black Boxes", all proprietary software, T1 lines, multiple clearing firms and brokers...

Neither of them, but you got the right idea. We are a private trading company.

No, you don't need to be an employee or owner of a clearing firm, just a lot of volume. We are not leasing a seat, if we were, we would be paying $1.40 less a RT. We reconsider leasing a seat on a monthly basis, the $4,000 a month or so lease payment would be offset in a day or so for us...

Craigross, You can retract or correct anytime.

Craigross, I looked it up on CME website. Here is the link: http://www.cme.com/risk_management/clearing_house/fees.cfm What are you talking about? We trade 1,000 to 10,000 contracts a day, if those are your fees send me a PM and we can talk. If you lease a seat you can get into the...

Craigross, You are definitely wrong.

The charges for a customer E-Mini, one side are: Globex Customer Fee $0.50 Globex System Fee $0.25 CME Clearing Fee $0.39 Subtotal one side $1.14 Total R/T $2.28 Plus NFA Fee Don't remember but not much Clearing...

Find another broker.