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Max risk is how far the SPY can drop. This is not a "hedged" position with limited risk.

It that a typo? You want to buy the 514 calls and sell the 514 put? That is a synthetic long stock position not a straddle. Did you mean buy both for a debit of (1.16 + 2.02) $3.18?

His picture was of SPY.

Opportunity cost. You can buy a risk fee T-bill or do this spread. This spread is not Risk free. There is pin risk and dividend risk.

No, it is part of the cost. In that old screen shot, there were 23 days to expiration. The riskless rate at the time was about 5.35% and the strike was 450. 450*(23/365)*5% = $1.42. This assumes no dividend. You can buy a T-bill or buy this spread for less than 448.58 net of all costs.

Did you include the cost to carry the conversion until expiration?

"Professional Trader" is a very broad category. If your sole income is from trading, or you work for a Prop firm or hedge fund or on the trade desk of a GS, or a MM on an Option or Futures exchange, these are all Professional Traders. Some work with $35,000 and some work with $350mm. The key...

I guess I only have two questions, what time est did your cancel you order. Did your trading software confirm your cancel? It is possible your software disconnected from their server and the cancel was not sent or confirmed.

Updated after the open, at 9:41am est with more data.

BTW, these are the other choices on the drop down.

Not much to look at pre-market, but Lightspeed Trader offers a window with most active options.

By the way, we lowered our standard rates on the website for all new customers. And we have the following promotion to kick it off. Promo Code: UNLIMITED24 https://lightspeed.com/lp/unlimited-cash-back Please choose me as your salesperson (Robert Morse)...

You’re asking for Cross margining which does not exist for retail accounts. One is regulated by the NFA/CFTC and the other SEC/FINRA. You have two margin requirements with no offset. This is correct.

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This Pro-status is just for market data fees. You will be Pro anyway. The entity and trading others money.

I asked my two questions, because if the investors are all US persons, no advantage to a foreign locale. And, if the entity is just for those investors, the hedge fund structure is not required.

You have to be very careful providing this stock answer. All 50 states have different rules as when you need to register with the State or SEC. I did a quick search and I read: In Texas, you may need to register to manage trading accounts if you meet any of the following criteria: You have at...

Before I try and provide a more complete response, are all the investors USA tax payers? Is it your plan to continue to raise money or only manage these investments? Would you prefer to call me later to discuss this in more detail?

CBOE SILEXX. Very easy. you can drag and drop, use preset spreads with a right click, save spreads, monitor spreads in a watch list.