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Quote from thebubs: As far as risk money management- I put 1000 in account and bought with that, have taken out 2000 from account thus far, (playing with houses money for now-mock again). My game plan for closing position is if I can sell 1/3 of position to break even on intial purchase...

USO would be my answer to OP. Why do you say that USO is a poor choice? Performance? Expenses?

Yes, it just happened to me with SPY calls. An order to sell, that should have filled, disappeared. I didn't cancel. I don't see the trade anywhere.

Yes, it is a problem. It's pretty obvious. I'm sure that IB is aware of it.

Yes, many times. Have you tried the trade summary tab?

So then....nothing would change.:D

Thanks, atticus.

What would be your list toppers?

Which broker would you recommend?

Sushi's just making crap up to pollute the board and scare some folks - or perhaps some half ass attempt to buy some puts. Lost soul is a good description. These types are sick and don't know it.

:confused: What are you talking about?

oops, sorry...I hit the wrong button. :eek:

I read somewhere that in the early years of listed option trading - the 1970s - that options generally were overpriced. If this is accurate, then there was an edge to selling options that was eventually eliminated.

Just my two...don't know if it's been said. Any statistical edge would be priced out of existence soon enough. I suppose that there are some situations to look for - I have stumbled upon a few over the years. But nothing that I could quantify into an edge.

In some cases it has happened. I noticed it with some biotechs before trial results were released. The option premium refused to decay until very late in the cycle - based seemingly more on the probability of the news release happening before expiry. But since IV is a function of price...

Yep, that stuff was years ago for me, too.

Cool. It's not entirely risk free, however. If you let it exercise/assign out - then the gain is yours. But there is pin risk. If the underlying should be at or very near the 10 or 11 strike at expiry, then you may not be able to be certain of the position closing itself. This has...

Your initial post was mistaken but it is a box and can be looked at as a symthetic long and short. The long is at the 11 strike 11 - .95 credit = 10.05 cost The short at 10 + .20credit = 10.20 So, yes .15 gain at any price.

As with biotechs, where trial results and FDA approvals may have a greater impact on stock volatility than earnings. A few years back I engaged in earnings plays. In most cases IV contracted after the announcement. But in a few cases the inflated IV lingered for a day or more as the market...

Hmmm...."option deal." Where have I heard that before?