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Actually, there would not be any pin risk at the 20 level since Nitro would be long the 20 strike. Thus, he controls the fate of the 20 calls (whether to exercise or not).

Nitro, If you can sell (i.e., leg) the 10 - 20 call spread at $10, your risk is zero (except commissions) and you set yourself up for a risk free trade. If the stock falls below $20 (i.e., between $10 and $20) you can sit there and bid for stock if you want to. Just check for dividends...

A bunch of these ETFs (maybe all of them) lost their minus tick or zero minus tick short sale exemption.

Just did a direct to the AMEX. It went GREEN. Sep 25 call.

I entered a SMART order which was sent to the PHLX and turned GREEN immediately. (Buy Sep 25 call)

I am not trying to defend the specialist, but sometime it could be a broker just standing at the post waiting for stock to come in before making a purchase. Thus, you would never see him in open book. For example, if a Goldman house broker is standing at the Disney post with 250,000 shares to...

No wonder you got poor margin treatment for your short iron condors. The margin clerk probably thought that you were trying to sell a "Pumping Iron" video to him.:D

www.ingdirect.com 2.00% on their savings accounts. FDIC insured to $100,000 (this maybe too low of a return, though)

The cabinet (0.01) is the lowest price, but not every broker will do this. Worthless options do trade at 0.01 near the end of the year for tax loss purposes (i.e., the option expires in January of the next year, but the holder wants to realize the loss in the current tax year).

If you want to trade the OEX use the OEF (ETF on the OEX). instead of the SPY. This should eliminate most of your tracking error.

No options because the exchanges need to get a license with Standard and Poors.

I had problems with this two weeks ago. Just make a backup copy of the jts.pg file as insurance.

Look at the OEF which is an ETF on the OEX.

Nitro, Wheeler would never give an order to buy or sell 1,000,000 shares. He would give the sell side broker a smaller portion (i.e., 100,000 to 250,000) and reload when done. He does use the alternative trading systems such as POSIT and Instinet for his listed orders. This is based on my...

Maybe the State of California should purchase the program to make up for their deficits.:D

You can create a column for the actual option expiration date. Then you can have another column for today (use the =today() function). Then in the third column you can create a function as the actual option expiration date minus the today column. Just make sure that the output is modified...

Up between 10% to 15% for the last three years (each year). Trading a 6 figure account.

Had the exact same problem yesterday (5/12) which lasted for 30 minutes or so.

When will holders of Kmart’s former common stock receive any proceeds from the Creditors’ Trust? That will depend on actions taken by the Creditors’ Trust and its ability to obtain recoveries under any litigation that the Trust may choose to pursue. The Trust has a term of three years...

IMPORTANT NOTICE Kmart Corporation and 37 of its U.S. subsidiaries and affiliates emerged from the Chapter 11 reorganization process on May 6, 2003. The Company and the related entities had filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code on January...