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LoosenUp, Before I respond, let me first say that this is my personal approach and is not one probably advocated by most people on this thread. Whatever makes you money I say! RE: Buying hedge insurance - no I don't. I might play the price move as a separate strategy if I'm feeling...

Skanan, Just wanted to say, keep it up. I trade credit spreads on the XEO myself occasionally so might contribute here now and then. Mostly I can be found rambling nonsense on Phil's SPX Credit spread thread. Momoney.

lol. Pretty much yeah. If you are communicating with the trade desk via Live Support rather than phone, they seem to be able to pick up your order without you having to tell them about it. Momoney.

I think we can all agree that, anectodal evidence aside, when it comes to pit traded options (grrr...) there's not much to choose from between brokers and things can change on a daily basis. As Phil says, the broker passes the order on to the pit. However, customer service of the broker IS a...

Piccon, I'm not Coach obviously and I'm sure he'll answer this for you in due course. In the mean time, here is a second opinion worth about as much as the paper it's printed on: Ask yourself this: if you didn't have the credit spread on, would still you go long the DEC 1640 straddle that...

My 2 cents: The thing is, if you are good enough to pick direction for legging in to spreads then why bother spreading at all? Why not go for maximum leverage. You are effectively changing your direction sentiment by legging into the spread. When you go long OTM calls your sentiment is...

For those that don't know, ToS also support commission structures from several other brokerages if you are switching from them e.g. Ameritrade, E*Trade etc. https://www.thinkorswim.com/tos/client/products/rates/rateplans.jsp In addition to at least three of their own commission...

Donna, If you're with ToS you can also use the live support feature for getting fills if you're more comfortable typing rather than phoning. Momoney.

Just wanted to check with you. You're aware that VIX changed a couple of years ago? Not sure if your historical data takes that into account. Originally it was based on OEX options ATM IV but now it is based on a range of options series on the SPX. Can't remember the exact details. RE...

Believe me, your work has not gone unnoticed! Although I don't trade the SPX and hence VIX is not relevant, I do apply similar thinking to what I do trade. There have been numerous papers written over the years on whether IV is a better predictor of future volatility than historical...

lol. Well if you want to take advantage of the madness and rising volatility you could go long straddles, backspreads, diagonals or has been mentioned about a zillion times, calendars etc. They each have their own pros and cons, naturally. I apologize if I came across as condescending for I...

I don't want to start a fight :) but I think it's important to resist the notion that credit spreads are "designed" or "meant" to be used in any particular way. It's up to the person doing the trade and what their personal market sentiment and objectives are. I think everyone is aware that to...

That would explain the larger than normal open interest in the 310, 320 and 330 call series options.

Thanks, that's good to know about the separate accounts. Hadn't got that far into the investigation though they do say on their website that they support electronically traded futures options for E-mini S&P 500 and Eurodollar but it has in brackets: (traded through RJO's MCD platform) which is...

lol, I have some short 545 strikes that have been violated 3 times in 2 weeks now but I'm just letting it ride...all part of the fun :p Not an approach recommended for people with anything but pure play money at risk, naturally. Momoney.

There's a not completely useless book that discusses credit spreads on futures options if you're interested: http://www.amazon.com/exec/obidos/tg/detail/-/0471436429/qid=1129837303/sr=8-1/ref=pd_bbs_1/102-0526283-8510540?v=glance&s=books&n=507846 Does a decent job of covering the in's and...

lol. Could be the arbs jumping on the rally to balance their books for the month. Classic signs of large buy programs. It just ain't stoppin'. Right up to the bell. Momoney.

Fair enough, squeeze away. I do not trade the SPX since she and I are not on good terms lol but I've always suspected that SET risk is a contributing factor to the slightly larger premiums on SPX options i.e. options have slightly higher chance of being ITM at expiration than one might...

Doh! Beat me to it. Words from my mouth lol. Must have missed when you rolled down your XEO bear call spread to 555. Thought you were brave rolling down to 560 last week in the first place! Lets hope there is no super rally - I'm sure you're aware that unlike the SPX and SET monthly fiasco...

So the answer to this question was...?