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I am looking forward to this

They should do a study by cities! Vancouver for example has a much different cost of living than the rest of Canada.

If your on Mosaic layout.... order entry -> type ticker -> press enter ->combinations -> drop down -> option combos directed -> cboe (wait 5 seconds for load) -> use strategy to build what you want -> hit ok -> it should populate in order entry. If there is a faster way, plz let me know. But...

Thanks fain, I have a lot of trades using SMART in past. So after a few weeks of direct routing, I'll post the TCA here.

1. You have leeway with your daily PnL ( no need to mark to market, a few % down in a day wont get you fired) 2. As you mentioned, much smaller capacity can move in and out of short dated options relatively quickly and efficiently. 3. No regulatory/investor pressure. However the commission...

What about systematically short gamma in various diversified etfs? This is a known strategy that works if you can keep your overhead low and be smart about leverage. In my opinion, retail traders are in the best position to be providing liquidity for short dated options. What are your opinions?

Thanks for the responses @destriero. IB throws on an additional charge per contract for direct route, but in my opinion it's totally worth it:Especially for the 231 Flys which seem to almost never get filled near mid via SMART.

I placed a few butterflys on MSM today for earnings tomorrow. What I did was placed an order on CBOE and a order on SMART. Filled at CBOE, my order was still hanging out at PHLX via the smart route. It's unfortunate many people are not aware of this.

Tested a direct order today straight to the CBOE COB 231 Fly. Filled instantly @ mid. Thanks everyone for your insight!! Going to also keep you guys updated with my next earnings trade as liquidity is usually thin and I am forced to raise/drop my price.

I know right?! Like who does this guy think he is?

He should really be using his theta budget as a quick and dirty risk metric rather than gamma (gamma decreases with the asset price). His strategy is very sensitive to jumps, and it will be interesting to see how he deals with a couple "unexpected jumps". Ps. I did not mean to offend anybody. I...

The good old "keep rolling until it pulls back". It must be nice having an infinite bankroll.

Indeed you did! CBOE COB quotes are not quoted right now.When the market opens I will be spending some time monitoring it to get some further intuition. Although @FSU stated he gets the best liquidity routing complex orders at CBOE, breaking the order up into it' s individual legs and...

Rob I see you have mentioned in the past connecting LiveVol X with IB. Is this still possible? The Ask I get from(for example) CBOE COB for a 352 FLY, is this the sum of all the Asks of each individual leg (SMART route within the ECN)? I know alot of question and there must be a book/manual...

https://speedtrader.com/order-routing-and-how-it-affects-your-trading/ For those interrested, this did a good job at explaining some concepts

Hi Rob, Have you looked into how IBKR smart route is strucured? There are a few people on this site who are against it (posts from 2008-2012). Are there any rules of thumb on which exchange you should route your order to if you decide not to use SMART route?

I trade with IB, and am guilty of using their SMART route for my orders. Recently, my buddy has been copying a few of my earnings trades using Questrade. His position sizes are smaller than mine but he is getting MUCH quicker and slighlty better fills. Some reputable posters on this site have...

mark this is untrue. Your statement is implying risk premium is overpriced and besides that, the market is 100% efficient. There are quite a few rocks to turn over if you are managing under 500k in the options market. + risk premium on certain assets is not always over priced. I would also...

Great job guys!! I tried to show as much research as possible so it didn't look like inside information...... I'm kidding :p

@met1989 could you please put some more thought into your questions. There is nothing wrong with asking a basic question but at least show some effort into trying to answer it yourself (add graphs, data sources, live quotes, your analysis etc..). You are not maximizing your time on this forum...