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I strongly disagree. The books I suggested are most definitely not irrelevant, although as I noted some are much more advanced than others. I would go so far as to say they are gold mines in my opinion, especially Natenberg, Cottle and Baird. The OP certainly would not be reading all those...

Not sure about the new margin rules, but you should be able to build any iron condor you want by adding the legs in individually in SpreadBuilder within OptionTrader. It will quote whatever legs you enter all as one order.

Sure, you can use Spread Builder in OptionTrader to individually add the three legs and quote it as one order.

Classic.

Two pieces of advice. First, read as much as you can. I recommend: Options as a Strategic Investment - McMillan (I would start with this and Natenberg) Option Volatility and Pricing - Natenberg Options Trading: The Hidden Reality - Cottle (my all-time favorite) Option Market Making - Baird...

My fault. I have been in your situation many times after an earnings play holding deep OTM long options (from an iron), and usually I was not able to get a fill, perhaps because so many other folks were trying to salvage some value out of them at the same time and they were very close to...

In my opinion, selling teenies is not a very sound strategy; you're picking up nickels in front of a steamroller. As an extreme example, ask the folks who sold deep OTM NFLX calls around the last several earnings. You can lose years' worth of premium in one day.

Or when you can justify the cost of a bbg sub...

Just getting my feet wet in forex, but I think the dollar is going to resume its uptrend. Long USD/JPY from 100.50, target 105, will scale out of 20% at 50 pips then every 100 pips thereafter, trailing stop 300 pips to weather intraday volatility. (Am actually long from 99.2 and have already...

I personally would not be worried about it, as there are often small differences between platforms in the greeks and IV. In my opinion it should not really affect your trading. If the strategy you are using is so dependent on a specific delta value that a slightly different value destroys the...

The redactions in your "quote" substantially changed the meaning of my language. I actually stated "My goal is simply to try to start a conversation on how we can improve the discourse on ET to make it more effective for our collective learning, more enjoyable for all of us, and more sustainable...

I have been on ET for about six months, and during that time I have come to appreciate that there is a lot of trading knowledge on this site, both live and in the archives. Some posters are very knowledgeable and clearly successful traders, and even those who are still working to become...

It would take some time, but you should be able to do it manually in ToS.

"atticus' single-name delta book" http://www.elitetrader.com/vb/showthread.php?s=&threadid=253092 "atticus' 'ship it' vol trading journal" http://www.elitetrader.com/vb/showthread.php?s=&threadid=248751

That is very helpful, thanks.

By way of background, Atticus has posted two very educational journals where he trades butterflies: "atticus' single-name delta book" http://www.elitetrader.com/vb/showt...=6&pagenumber=1 "atticus' 'ship it' vol trading journal" http://www.elitetrader.com/vb/showt...trading+journal I...

I unfortunately have had to deal with PDT as well. In my experience with ToS a spread is counted for PDT purposes, not the individual legs. For example: - If you open and close a fly on the same day that counts as one daytrade (as long as you don't leg in or out). - If you open two...

It is 3:00 p.m. Central time, which is 4:00 p.m. Eastern time.

I would sign up for it in a heartbeat, as long as the fee was reasonable--$50/month seems more than fair. Surf might be right though in terms of there not being a large enough group willing to do it to make it worthwhile, if the goal is for the good traders to make money off the subscription...

You will usually need to give up a little bit of edge off the midpoint to get a fill (otherwise why would a market maker sell you the option). For what it's worth, in my opinion selling butterflies is not a game for the retail trader, and especially so when you are just starting out. Never say...