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Only some stocks allow trading of options in pennies. For the ones that don't, you can still trade spreads in pennies, so you may be seeing one leg of a spread trade.

Unfortunately as of June 1 you can no longer request new strikes this way. You must go through your broker and they will contact the CBOE. https://cdn.cboe.com/resources/release_notes/2020/New-Series-Requests.pdf

Ahh, Gotcha, thx.

There is an existing thread on this article arlready, https://www.elitetrader.com/et/threads/day-trading-wsj-article.348033/

There are 16 option exchanges, so there is no consolidated opening price. The price you are filled at will depend on the opening market at the exchange where your order was routed to, and you may not be protected by NBBO on the opening. Instead of putting in an option order prior to the...

Nice call so far, looks like it its lower again today.

Interesting, I never realized this. Thanks for the insight.

Any quotes you get, options, stock, etc. will be subject to the higher "professional" rate.

Be aware if you are trading under a LLC you will be considered a "professional" under some circumstances. This will mean very high data fees at least.

One of my main trades was far out cheap puts. So when they listed new leaps in the SPX they would generally only go down to the 1000 strike, which was still a very pricey option. So I would request lower strikes here.

Fyi, It used to be that if you as a customer wanted to request new option strike prices you could call or email the CBOE. I would do this many times in the SPX. No longer, now you must ask your broker to make the request. https://cdn.cboe.com/resources/release_notes/2020/New-Series-Requests.pdf

Pin risk really does only apply to your short options, as you have the ability not to exercise your long options if they are in the money. With short options you don't know what will happen for sure.

This is one of the main stocks I have been trading the last few months. Mainly the back month options. It is really crazy how they price them, seems to have nothing to do with how much up/down it is in a day. One day they seem to randomly decide to destroy back month premium and another it...

I know you asked about trading platforms that have a broker behind them, but here is a partial list of of some advanced platforms that are not broker specific. What great about many of these is if you change brokers, you can still use these platforms and they offer some advanced stuff as well...

Looks like they introduce to Wedbush, according to FINRA https://files.brokercheck.finra.org/firm/firm_39473.pdf

There was a post a while ago where someone explained how to route spreads through IB to a specific exchange. It is not that simple but it works. I will try and find it. Edit, here it is https://www.elitetrader.com/et/threads/ibkr-smart-route-and-order-fills.328595/page-5 Thanks to @TheBigShort

Interesting, I was sending many spread orders through out the day to the CBOE COB (although not to the RUT). No issues at all. Also no mention here, http://markets.cboe.com/us/options/notices/system/ Must have been an IB exclusive issue. Did you try to route to another exchange?

You also have the opportunity to be paid for adding liquidity with IB. They pass on the charges and rebates the exchanges give/take.

Too late to edit, just to update, I confused CT and ET in this thread. I meant to say the OCC cutoff time is 430pm ct and 530 pm et. (1hour 30 mins after the close). If the markets close early these times would be adjusted.

Yep, their risk program would look at selling 100 $5 call spread for 4.95 as $500 in risk. Five thousand? You have plenty of money! Feel free to keep selling it!