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Wow.. You're just a wealth of information. Bottom line for me. . Just keep fishing when you're trading smaller lots.

Yeah, I get it. That why I've built my own price models and track the previous prices as well. Can't hold too many positions as a result but it gives me a good sense as to the market...

It was about a 10% spread Or less. I typically trade options with a 5 to 10 percent spread.

so today was an interesting day... I had 2 fills that were filled just above the bid (buying). normally, I would need to get to the mid or higher to get the fill. these fills were instant too. they didn't sit on the market and then someone met my price. why did these 2 fills get filled...

Shades of Livermore...

there are various ways to quantify risk and 'blue-chipness' or what categorizations you want. The secret is to find and build what works for you. There is work involved in learning more about yourself and what is acceptable for you. For risk, you might look at volatility (many different...

I would not classify TSLA as blue chip. Nor spy (b/c it is an index). I think proper categorization ( however you want to do it) is essential to risk mgmt.

So with so many advantages, why and how does a mm go under, or stop doing business. I remember IB stopped being a mm for options last year ...

Wow... Had no idea that my bid/offers were tagged as open/close. That's gives alot away in the less liquid market. Less leverage etc... It's like the mm knows what cards are still out in, while I am holding the cards... That would explain some of the pricing I see in less liquid markets. After...

spoken like a true veteran. love it! i guess you're selling ATM puts because those will gain the most when the correction does occur? (and then offset the losses on the calls). i.e. as opposed to OTM or ITM

good for you. Sounds like you've done your research and tested your systems. the 100 ITM naked calls must have been nerve-wracking. To withstand that, you've got to have faith in your systems!

Pretty gross what some FI's get away with. It's almost like a cheap loan the banks are getting. Call it in and make some profit...

Exactly. Treat it like a business, get paid like a business. Treat it like a hobby, pay for it like a hobby.

I don't rely on trading to put food on my table. That's a dangerous mentality and I would never trade with that mentality. It took some time to get consistently profitable as a trader (still lots to learn as it's a constant evolving process) and I believe anyone can do it. Trading is mostly...

whatever the platform, commit to being great at trading. if your commitment is lacking, then you will likely lose money. i say commitment because if a person is not willing to invest the time to learn how to use a platform effectively (not mastery, just master what you need to learn), then they...

interesting comment about the lots... i've often wondered if I could get better fills with smaller lots. commish has come down all over the place so lot sizes can be smaller and still cost efficient (not time efficient). what has been ppl's experience with lot sizing and fills? is it a lot...

'academic pointlessness'... love it. reminds me of LTCM. ;p

good to know. did not know that EOD was not EOD. How and when do you take your EOD snapshot? Has the market making game changed much since you were one? I imagine with AI, algo trading, etc... that MM is mostly automated/run by computers these days... As well, I hope you will one day get...

interesting... that's a different way to look at things. thanks for the perspective!

I haven't use CML but have used ONE (optionet explorer). CML seems good except it is missing one important piece for me: intraday candle information (I have mentioned the need for this data to them in the past). With the amount of volatility that can happen in a day for an option's price, I...