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Not completely operator error. The problem looks like how my FCM is calculating my risk margin. Because I'm primarily short volatility, the FCM is being conservative and forcing me to hold 200% of SPAN margin. I don't like it, but I'll deal with it. But the FCM's math is currently 200%...

Good point. There's no (easy, out of the box) way for whoever to hedge their risk with other options/months/strikes. The spread will probably be nasty.

Sorry, looks like it was operator error! I misinterpreted the line I was looking at. I was focused on the bottom line "total requirement", which combines the actual SPAN risk parameter + "net option value" (the amount of cash I'd theoretically have if I was selling these deep ITM calls...

Don't talk to Interactive Brokers, talk to ICE. Their decision.

Not really sure what that means! Dug through some docs, saw that there's essentially a RFQ process, and what sounds like a custom opencry thing... Is this really meaningful for a retail investor? I think I saw 10 lots being a minimum. So say I wanted to trade 10 lots, just for the...

Hmm, I just double checked NYBOT maintenance exchange margin for just cocoa futures... and it's only $1600 for non-underlying. I'm really curious how PC-SPAN ended up at $9300.

My actual portfolio has the proper matching futures/options, and margin as calculated by my FCM has been climbing even as I move further away from the strike. You can also look at the position files I pasted. It's right. 200909 on the future, 200909 on the underlying in the option.

Yep, waiting a call back now from the risk management folks at CME. For some reason I've always thought the "exchange" would be a dark blob with really poor customer service... in reality, I've found the exchanges are a lot more customer friendly (not to mention better informed) then most of...

Let me also add, I stumbled into exploring this because of my actual portfolio. My margin requirements were skyrocketing the last few days, and I couldn't figure out why. Dug into it, and then realized these deep, deep ITM covered call positions were responsible.

I believe so... not rocket science using the software. If anyone else has PC-SPAN, it would be great if they could check my numbers. Here's the position file: - actual put <np> <exch>NYB</exch> <pfCode>CC</pfCode> <pfType>OOF</pfType> <pe>200909</pe> <undPe>200909</undPe> <o>P</o>...

Anyone else out there use PC-SPAN, or something similar for calculating margin? I've read the really basic primer of how it functions... and it sounds mostly reasonable. But the end-result that I'm seeing are really *not* reasonable. Example, using 8/3 settlement risk parameters from the...

Hi, Just noticed this while looking at lean hog: http://www.cmegroup.com/trading/commodities/files/AC-185_PorkFC.pdf In talking about month listings for options, it talks about: <i>Eight months of Feb, Apr, May, Jun, Jul, Aug, Oct, Dec and Flex® Options*.</i> What are Flex Options?

Sorry, you're right. I've been trading the serial KCV9 options, and haven't been able to pull those up electronically. But yes, the regular U and Z options should be available electronically.

This is a caveat of trading options electronically, has nothing to do with IB. You can definitely get a fill, you just have to do it through the pits... at least if you get a live quote. But even without a live pit quote, if you offer it (electronically) at a fair price, I'm assuming someone...

Hey folks, Can anyone out of the kindness of their hearts introduce me to an executing floor broker in the CME/CBOT option pits, preferably one that has IM (or has a clerk with IM)? I have that kind of a setup with NYBOT, and really like it. Almost as good as trading electronically...

Thanks H! I sent you a PM, by the way.

Boy, almost made an embarrassing (and expensive) mistake. Because the Sep options have Dec underlying, I assumed the Oct options would be the same. It turns out, I would've been wrong. Oct options have the Oct underlying!

A typical "to go" meal from a basic Chinese cafeteria-style restaurant would cost you about $1 USD. A meal in a reasonable restaurant (the kind you'd visit with friends/family, not the kind you visit to throw a banquet) would cost you about $3 USD/head. Taxi fares usually start around $1...

Hi there, Are there any data vendors out there that provide historical ask/bid bars, and not just "last" bars? I'm working with some contracts which don't trade overnight, so when I look at the historical chart... it's pretty sparse overnight. A bar here, a bar there... maybe a hand full...

Can anyone speak to Dorman's reputation as a FCM, or broker? The NFA website doesn't show much in terms of negative action. I've heard some very negative "whispers" ... but it comes from a competitor, which is why I want to hear from other more neutral parties as to their reputation. Thanks.