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I think 4Q is an accountant, and it is his interest to create fear so he can get more business. bad. :eek: However I didn't mean that consulting with accountant is bad. You are getting advice from a public forum at your own risk. :D

Dan, I agree that you don't need combo if you trade your own money. Combo is only for traders who want to trade OPM. A simple LLC will be fine. Did you open your LLC in your home state or Delaware? I don't understand why you didn't open a C-corp. Do you realize that you, as the manager...

Paul charged you $500 for a LLC not a LLC/C-Corp combo, whereas TA quoted you $3000 for the combo. There is a difference between the combo and LLC IMO.

I believe you still have to pay half of the SS, even you pay SS with your other job. In the following thread, there are some info regarding LLC. http://www.elitetrader.com/vb/showthread.php?s=&threadid=85289&perpage=6&pagenumber=10 Post questions there. Perhaps traderstatus can give...

piccon, Did you open any CTM spreads? Without OB/OS signal, do you stay away from the market?

I believe if you are trading via a LLC or Corporation. It is already MTM. A corporation doesn't have to apply for trader status. One thing regarding trading under your LLC. You have to pay fica tax (an extra of 15%) for your profit as a managing member of the LLC.

K-1 is a partnership distriubution. You don't put your profit and loss in Schedule D. Put the number in Schedule E (Income or loss from partnership).

I have enough credits for ss and medicare before I trade full time. Thanks for your advice.

Suppose you and your working spouse set up a LLC for trading purpose, it is possible to distribute most of the profit to the spouse who works full time in another company. Being a passive member, he/she doesn't have to pay social security tax, right?

Hong Kong has zero tax on personal capital gain. Personal income tax there is 15% max. You can open an IB account and trade there. IB has an office in Hong Kong.

Pretend you are a client, and talk to an IAR in your local area. He/she will have you sign the customer agreement, and you will get a copy.

I currently have Jun 900 and 950 calls.

piccon, I don't feel your message offensive. I am trying to learn from you so we continue our discussion here. It is great to discuss different ideas (though I am not a great trader yet). In the beginning of the month, I usually open positions (usually with ratioed diagonals) to give me...

Thanks a lot.

Mark, I think your method works well for credit diagonal. In general, it depends on the choice of strikes. When the market rallied with a big drop in IV, it is a good time to bet on a reverse on IV (i.e. the market drops). So there are many ways to play this game. To bet on IV, you can...

Please let me know your experience after you've started trading with it.

piccon, I didn't get my 780/770 fill. Instead, I opened a put diagonal Apr/Feb 760/790. My portfolio was negative delta, with negative gamma. The negative delta was so big that I was uncomfortable and was worried that the market would continue move up (no confidence with my directional...

I heard it has advertised in cnbc, and it is under sipc protection. This outfit will definitely change the rule of the game. More FOTM sellers with bigger contracts!!!

Demestic, How do you compare the performance of this new strategy with your naked writings? This new strategy seems to have a much lower span margin when compared with naked put. Do you open both put and call sides?

You are right. With slippage, there is no arb opportunity. Even with no arb opportunity, are there any advantages of opening long call calendar vs long put calendar (if we can get it at mid?)