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A fellow trader and I are moving towards starting a business entity to trade co-mingled funds from others. We have both wanted to do this for some time as we have had numerous requests to trade other peoples' money, mostly friends and family. Of course we're consulting all the CPAs...

I have noticed this as well. The PHLX phone lines go down from time to time and IB has a hard time getting thru to them. I have had a number of option trades execute on PHLX in the same manner you describe. I would suggest checking the exch listing the best bid/ask using TWS, then either...

I use CBOE throughout the day for a backup real-time quote service. Regarding the regional exchanges: Each of the 5 or so majors operate as completely separate entities that come together during the day. It would be helpful to think of them as MM's. Each makes their own market and trades...

Since you put it that way, I'm looking for one as well. I would like to have the entire option population (all optionable stocks and strikes - although mostly front 2 months and nearby strikes) downloadable as EOD data. The most important part of this would be the closing bid/ask. I have...

What do you mean by "after hours" prices?

If you have a carryover, wouldn't the first year of MTM (presumably gains) serve to offset those anyway? If I am carrying a 20K loss into this year and make 20K in 2002 under MTM, wouldn't that wash? I understand the 20K gain is income and not cap gain, but then how would I get the 20K loss...

According to all the docs I have, you do NOT have to pay SE tax under the MTM election. If you did pay SE tax, then you would also be eligible to contribute to an additional retirement plan, like a SEP or Keough, which could serve to offset the 15%. You can't have one without the other. I...

Build a windmill farm and generate your own power. You can sell the excess back to the grid and make money while not being dependant on "the man". Seriously folks, I don't live in India (where power outages last an average of 2 hours per day in some metropolitan areas) and up until about...

It may be a coincidence but my QCharts and IB went down at the exact same time. Maybe an internet short somewhere??? QCharts goes down all the time, nothing surprises me with these people.

MTM does allow you to hold certain investments and benefit from long term capital gains. You must designate the security as such prior to buying it and the IRS recommends keeping non-MTM securities in a separate account. Wash sale rules apply on non-MTM securities.

I am making the election this year as well. I just got about 25 pages of legal history and challenges on mark-to-market status. I'm no expert by any stretch, but I should be able to answer any questions you might have after studying this for the past few months.

Def is right... and IB is the way to go with equities and options. One reason for the price difference is likely to be the time of last execution. In your example, it is possible that the outside prices were prints from much earlier in the day - when the underlying was trading at a much...

1. IB software appears to have a problem with double charging for partial fills where the remaining fill happens a few days later. This has happened to me twice. The first was resolved and I just emailed (help) today about the second instance. 2. It seems you are not able to purchase...

JS, I get historical options data on QCharts. The data is correct most of the time. I don't know of a free svc with the same info, but there's probably one out there somewhere.

duffer, I do write naked puts about half the time, usually on higher priced stocks when the technicals appear to indicate the stock has bottomed. I usually write with about 5-6 weeks left with a fishbowl forming. Kicking, Writing the naked puts when I own the long is a way of averaging...

I employ a few strategies that are loathed by the trading community...like averaging down and adding to losing positions. Believe it or not, I have a very high winning percentage - but only because of the options. My goal is to buy/write for a minimum profit of 15% a month. Keep in mind I...

McMillan has some good points. There is much to be said about option volatility for no apparent reason (rumors). A portion of my trading is based on that very same premise. A good example these days is SONS. They were rumored to be a takeover target in early November before they started to...

I haven't worked with that much myself....but I'd suggest saving them as .quo files. Then do File, New, quote sheet to bring up a blank quote sheet. Then right click and import. Then go find your files. There's a QCHARTS group on yahoo full of experts...

Turok, You are right, I erred in my previous post. I should have said that 2 consecutive qualified BIDs (or asks) need to hit the tape. I have had stops trigger without an actual trade occurring. It has been a while, and I know this stuff changes from time to time. I've seen it since I...

I researched this very thoroughly a while back. The exchange does not matter. If you are watching an official "time and sales" ticker, when the 2nd consecutive qualified print hits, you should go green. I would be glad to go over the prints with you in your particular situation if you like...